BMO Capital Markets Forecasts Strong Price Appreciation for LGN (NASDAQ:LGN) Stock

LGN (NASDAQ:LGN) had its price target hoisted by research analysts at BMO Capital Markets from $46.00 to $63.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 20.70% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Tigress Financial reissued a “buy” rating and set a $60.00 price target on shares of LGN in a report on Friday. Guggenheim upped their price objective on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research increased their price objective on LGN from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings assumed coverage on LGN in a report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Finally, The Goldman Sachs Group boosted their target price 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. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, LGN currently has an average rating of “Moderate Buy” and a consensus target price of $60.14.

LGN Stock Down 4.7%

Shares of LGN stock opened at $52.20 on Monday. 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 52 week low of $26.96 and a 52 week high of $60.50. The business’s 50-day moving average is $51.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in LGN in the 4th quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in LGN in the fourth quarter valued at $64,000. Clearbridge Investments LLC raised its position in LGN by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after purchasing an additional 1,667 shares during the last quarter. Symmetry Investments LP lifted its holdings in LGN by 21.9% during the 4th quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock worth $420,000 after buying an additional 1,750 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of LGN in the 4th quarter valued at about $91,000.

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.