Barclays Forecasts Strong Price Appreciation for LGN (NASDAQ:LGN) Stock

LGN (NASDAQ:LGN) had its price target upped by research analysts at Barclays from $37.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 9.44% from the company’s previous close.

Several other brokerages have also commented on LGN. Tigress Financial lifted their price objective on shares of LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Weiss Ratings initiated coverage on shares of LGN in a report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

LGN Stock Performance

Shares of LGN stock traded up $1.03 during mid-day trading on Friday, hitting $49.69. 569,591 shares of the stock were exchanged, compared to its average volume of 1,199,873. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57. LGN has a 12 month low of $26.96 and a 12 month high of $50.20.

Hedge Funds Weigh In On LGN

An institutional investor recently bought a new position in LGN stock. Harbor Capital Advisors Inc. purchased a new position in LGN (NASDAQ:LGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 28,353 shares of the company’s stock, valued at approximately $1,220,000.

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.