LGN (NASDAQ:LGN) Hits New 1-Year High – Should You Buy?

LGN (NASDAQ:LGN) reached a new 52-week high during trading on Saturday . The stock traded as high as $55.48 and last traded at $55.24, with a volume of 2093827 shares changing hands. The stock had previously closed at $47.28.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Tigress Financial boosted their price objective on shares of LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings assumed coverage on shares of LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Barclays increased their price target on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Stifel Nicolaus boosted their price objective on LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.75.

LGN Stock Up 16.8%

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

Institutional Investors Weigh In On LGN

Several large investors have recently modified their holdings of the stock. Assetmark Inc. bought a new stake in LGN in the fourth quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new position in LGN in the fourth quarter valued at about $64,000. Kestra Advisory Services LLC bought a new stake in LGN during the fourth quarter worth about $91,000. Clearstead Advisors LLC bought a new position in shares of LGN in the fourth quarter valued at approximately $140,000. Finally, Comerica Bank bought a new stake in LGN during the 4th quarter worth approximately $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.