LGN (NASDAQ:LGN) Receives Consensus Rating of “Moderate Buy” from Brokerages

LGN (NASDAQ:LGN) has received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.75.

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

LGN Trading Up 0.6%

Shares of NASDAQ LGN traded up $0.31 during trading on Wednesday, reaching $50.25. The company had a trading volume of 365,894 shares, compared to its average volume of 1,216,511. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. LGN has a 12 month low of $26.96 and a 12 month high of $52.74.

Hedge Funds Weigh In On LGN

A number of institutional investors have recently added to or reduced their stakes in LGN. Capelight Capital Asset Management LP purchased a new position in shares of LGN during the 4th quarter worth $4,089,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of LGN by 1,073.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after buying an additional 79,323 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of LGN in the fourth quarter worth $3,681,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of LGN during the fourth quarter worth $3,179,000. Finally, LBP AM SA purchased a new position in LGN during the fourth quarter valued at $2,887,000.

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.