Tigress Financial Reiterates “Buy” Rating for LGN (NASDAQ:LGN)

LGN (NASDAQ:LGN)‘s stock had its “buy” rating restated by equities research analysts at Tigress Financial in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $60.00 price objective on the stock. Tigress Financial’s price objective indicates a potential upside of 9.59% from the stock’s previous close.

Several other brokerages have also recently issued reports on LGN. Guggenheim lifted their price objective on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research upped their target price on LGN from $45.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Barclays boosted their price objective on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, 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 research note on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.67.

LGN Stock Performance

Shares of LGN stock opened at $54.75 on Friday. LGN has a 52-week low of $26.96 and a 52-week high of $60.50. The business’s 50-day moving average price is $51.16. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98.

Institutional Trading of LGN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGN. Janus Henderson Group PLC grew its holdings in shares of LGN by 128.4% during the fourth 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 in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of LGN during the fourth quarter valued at approximately $69,438,000. Vanguard Group Inc. boosted its position in LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after acquiring an additional 1,415,282 shares during the last quarter. Munro Partners boosted its position in LGN by 1,875.9% during the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock worth $60,111,000 after acquiring an additional 1,325,957 shares during the last quarter. Finally, CI Investments Inc. grew its stake in LGN by 2,209.7% in the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after acquiring an additional 754,157 shares during the period.

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.