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

LGN (NASDAQ:LGN) had its price target boosted by investment analysts at The Goldman Sachs Group from $63.00 to $72.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 2.40% from the company’s current price.

LGN has been the topic of several other reports. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Barclays raised their price objective on LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. BMO Capital Markets raised their price objective on LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Stifel Nicolaus raised their price objective on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada raised their price objective on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, LGN currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

LGN Stock Up 7.2%

Shares of NASDAQ:LGN opened at $73.77 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.57. LGN has a 52-week low of $26.96 and a 52-week high of $74.48. The firm has a 50 day moving average price of $54.99. The firm has a market capitalization of $7.97 billion and a P/E ratio of -7,377.00.

LGN (NASDAQ:LGN) last released its earnings results on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60). The firm had revenue of $737.64 million during the quarter, compared to the consensus estimate of $616.05 million. LGN’s revenue was up 34.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LGN. Janus Henderson Group PLC increased 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 valued at $189,442,000 after purchasing an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of LGN during the fourth quarter valued at $69,438,000. Vanguard Group Inc. increased its holdings in shares of LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares during the period. Munro Partners grew its holdings 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 period. Finally, CI Investments Inc. grew its holdings in LGN by 2,209.7% during the fourth 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.

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.