LGN (NASDAQ:LGN) Receives $53.75 Average PT from Brokerages

Shares of LGN (NASDAQ:LGN) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $53.75.

A number of equities analysts have issued reports on the company. Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Tigress Financial raised their target price on LGN from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. The Goldman Sachs Group upped their price target on LGN from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings assumed coverage on LGN in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating for the company. Finally, Stifel Nicolaus raised their price objective on LGN from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, January 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in LGN by 128.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after buying an additional 2,474,220 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of LGN by 78.1% in the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after buying an additional 1,415,282 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of LGN in the 4th quarter worth approximately $69,438,000. Munro Partners grew its holdings in shares of LGN by 1,875.9% in the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after acquiring an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. increased its position in shares of LGN by 2,209.7% during the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after acquiring an additional 754,157 shares during the last quarter.

LGN Price Performance

NASDAQ:LGN opened at $52.16 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.98. LGN has a one year low of $26.96 and a one year high of $58.10. The stock’s 50-day simple moving average is $50.78.

About LGN

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.