The Goldman Sachs Group Issues Positive Forecast for LGN (NASDAQ:LGN) Stock Price

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

LGN has been the subject of several other research reports. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Tigress Financial boosted their price target on LGN from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Stifel Nicolaus increased their price objective on shares of LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings assumed coverage on shares of LGN in a report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Finally, Barclays upped their target price 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.75.

LGN Trading Up 0.3%

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LGN. Harbor Capital Advisors Inc. bought a new position in LGN in the 4th quarter worth $1,220,000. Assetmark Inc. purchased a new position in shares of LGN in the fourth quarter valued at about $31,000. Freestone Capital Holdings LLC bought a new position in shares of LGN in the fourth quarter worth about $1,153,000. Capelight Capital Asset Management LP purchased a new stake in shares of LGN during the fourth quarter worth about $4,089,000. Finally, LBP AM SA bought a new stake in LGN during the 4th quarter valued at approximately $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.