BTIG Research Forecasts Strong Price Appreciation for LGN (NASDAQ:LGN) Stock

LGN (NASDAQ:LGN) had its target price hoisted by research analysts at BTIG Research from $45.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 35.50% from the stock’s current price.

LGN has been the topic of a number of other research reports. The Goldman Sachs Group raised their price objective on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Barclays upped their target price on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Tigress Financial raised their price target on shares of LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Stifel Nicolaus upped 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. Finally, Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

LGN Trading Up 4.5%

LGN stock traded up $2.37 during midday trading on Friday, reaching $55.35. The company had a trading volume of 703,591 shares, compared to its average volume of 1,045,032. 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 $60.50. The business has a fifty day moving average of $51.06.

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

Institutional Investors Weigh In On LGN

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