LGN (NASDAQ:LGN) Shares Gap Up Following Analyst Upgrade

LGN (NASDAQ:LGN)’s stock price gapped up before the market opened on Friday after Guggenheim raised their price target on the stock from $53.00 to $68.00. The stock had previously closed at $52.98, but opened at $59.01. Guggenheim currently has a buy rating on the stock. LGN shares last traded at $54.3320, with a volume of 637,002 shares traded.

LGN has been the topic of several other research reports. The Goldman Sachs Group raised their price objective on LGN from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Stifel Nicolaus upped their target price on LGN from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Tigress Financial lifted their price target on LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Barclays boosted their price objective on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, LGN currently has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Institutional Investors Weigh In On LGN

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of LGN during the fourth quarter worth about $1,220,000. Assetmark Inc. acquired a new position in LGN in the 4th quarter valued at about $31,000. Freestone Capital Holdings LLC purchased a new stake in LGN during the 4th quarter valued at approximately $1,153,000. Capelight Capital Asset Management LP acquired a new stake in LGN during the 4th quarter worth approximately $4,089,000. Finally, LBP AM SA acquired a new stake in LGN during the 4th quarter worth approximately $2,887,000.

LGN Stock Up 2.1%

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57. The firm’s 50 day moving average is $51.06.

LGN (NASDAQ:LGN) last released its quarterly earnings results on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60). LGN’s quarterly revenue was up 34.5% on a year-over-year basis.

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.