Guggenheim Issues Positive Forecast for LGN (NASDAQ:LGN) Stock Price

LGN (NASDAQ:LGN) had its target price boosted by Guggenheim from $53.00 to $68.00 in a research note issued to investors on Thursday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other research firms also recently weighed in on LGN. Tigress Financial upped their price target on LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted their price objective on shares of LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Barclays boosted their target price on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Stifel Nicolaus raised their target price on shares of LGN from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.60.

LGN Price Performance

Shares of LGN opened at $52.98 on Thursday. The company’s 50 day simple moving average is $51.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57. LGN has a 12-month low of $26.96 and a 12-month high of $58.10.

Institutional Trading of LGN

Large investors have recently added to or reduced their stakes in the company. Hiddenite Capital Partners LP purchased a new position in shares of LGN in the fourth quarter valued at $6,569,000. Oppenheimer Asset Management Inc. purchased a new stake in LGN during the fourth quarter valued at $297,000. Comerica Bank purchased a new stake in LGN during the fourth quarter valued at $192,000. Pictet Asset Management Holding SA bought a new position in LGN during the fourth quarter valued at $1,722,000. Finally, Vanguard Group Inc. lifted its position in LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares during the last quarter.

LGN Company Profile

Legence Corp. is a provider of engineering, consulting, installation and maintenance services for mission-critical systems in buildings. The company specializes in designing, fabricating and installing complex HVAC, process piping and other mechanical, electrical and plumbing systems. Legence Corp. is based in SAN JOSE, Calif.