LGN (NASDAQ:LGN) Reaches New 12-Month High Following Analyst Upgrade

LGN (NASDAQ:LGN) reached a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from $50.00 to $58.00. Stifel Nicolaus currently has a buy rating on the stock. LGN traded as high as $51.80 and last traded at $51.14, with a volume of 101546 shares trading hands. The stock had previously closed at $49.77.

A number of other equities analysts have also weighed in on LGN. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Tigress Financial boosted their price target on shares of LGN from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Barclays upped their price objective on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings initiated coverage on shares of LGN in a research note on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LGN currently has an average rating of “Moderate Buy” and an average price target of $54.33.

Institutional Investors Weigh In On LGN

A number of institutional investors and hedge funds have recently made changes to their positions in LGN. Assetmark Inc. acquired a new position in shares of LGN in the 4th quarter worth approximately $31,000. Freestone Capital Holdings LLC purchased a new stake in LGN in the fourth quarter valued at approximately $1,153,000. Harbor Capital Advisors Inc. acquired a new position in LGN during the fourth quarter worth $1,220,000. LBP AM SA acquired a new position in LGN during the fourth quarter worth $2,887,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of LGN during the fourth quarter worth $3,179,000.

LGN Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57.

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.