LGN (NASDAQ:LGN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

LGN (NASDAQ:LGN) had its price target raised by equities researchers at The Goldman Sachs Group from $46.00 to $52.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 3.83% from the company’s current price.

LGN has been the topic of a number of other reports. Tigress Financial upped 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 upped their price objective on shares of LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday. Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Barclays boosted their price target on LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings started coverage on LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.75.

LGN Stock Up 0.3%

Shares of NASDAQ LGN traded up $0.14 during mid-day trading on Wednesday, hitting $50.08. 332,949 shares of the stock traded hands, compared to its average volume of 1,213,822. LGN has a 52 week low of $26.96 and a 52 week high of $52.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.57 and a current ratio of 1.57.

Hedge Funds Weigh In On LGN

Hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in LGN by 1,073.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after purchasing an additional 79,323 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of LGN during the fourth quarter valued at $31,000. Asset Management One Co. Ltd. bought a new stake in LGN in the 4th quarter worth about $3,681,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in LGN in the 4th quarter worth about $3,179,000. Finally, LBP AM SA bought a new position in LGN during the 4th quarter valued at about $2,887,000.

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.