LGN (NASDAQ:LGN) Shares Up 9.4% – Here’s What Happened

Shares of LGN (NASDAQ:LGN) shot up 9.4% during mid-day trading on Friday . The company traded as high as $52.00 and last traded at $51.71. 134,267 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,131,929 shares. The stock had previously closed at $47.28.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LGN. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Tigress Financial increased their target price on shares of LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Stifel Nicolaus raised their price target on LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings began coverage on shares of LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Finally, The Goldman Sachs Group raised their target price on shares of LGN from $46.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, LGN presently has a consensus rating of “Moderate Buy” and an average price target of $53.75.

LGN Price 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.

Institutional Investors Weigh In On LGN

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. bought a new position in shares of LGN in the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd purchased a new stake in LGN during the 4th quarter worth about $64,000. Kestra Advisory Services LLC bought a new position in LGN in the 4th quarter worth about $91,000. Clearstead Advisors LLC bought a new position in LGN in the 4th quarter worth about $140,000. Finally, Comerica Bank purchased a new position in LGN during the 4th quarter valued at about $192,000.

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.