LGN (NASDAQ:LGN) Price Target Raised to $63.00 at The Goldman Sachs Group

LGN (NASDAQ:LGN) had its price target boosted by analysts at The Goldman Sachs Group from $52.00 to $63.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 18.41% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus increased their price objective on shares of LGN from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. BTIG Research raised their price target on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday. Weiss Ratings initiated coverage on LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Finally, Guggenheim lifted their target price on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

LGN Trading Down 2.8%

Shares of LGN stock traded down $1.54 during mid-day trading on Monday, hitting $53.21. 1,130,314 shares of the stock were exchanged, compared to its average volume of 1,080,983. 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 stock’s fifty day moving average price is $51.16.

Institutional Trading of LGN

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in LGN by 128.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock worth $189,442,000 after buying an additional 2,474,220 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of LGN during the fourth quarter worth approximately $69,438,000. Vanguard Group Inc. increased its holdings 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 valued at $138,919,000 after acquiring an additional 1,415,282 shares during the period. Munro Partners increased its holdings in shares of LGN by 1,875.9% in the 4th 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 during the period. Finally, CI Investments Inc. raised its position in LGN by 2,209.7% in the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after purchasing an additional 754,157 shares during the last quarter.

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.