LGN (NASDAQ:LGN) Sets New 12-Month High – Should You Buy?

LGN (NASDAQ:LGN)’s stock price hit a new 52-week high on Monday . The stock traded as high as $64.78 and last traded at $64.3480, with a volume of 110177 shares. The stock had previously closed at $63.20.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BTIG Research boosted their price objective on shares of LGN from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. BMO Capital Markets boosted their price objective on shares of LGN from $46.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. 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. The Goldman Sachs Group boosted their price objective on shares of LGN from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Finally, Barclays boosted their price objective on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.25.

LGN Trading Up 1.0%

The firm has a market cap of $7.14 billion and a PE ratio of -6,606.00. The stock has a 50 day simple moving average of $53.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.57.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The company had revenue of $737.64 million for the quarter, compared to analysts’ expectations of $616.05 million. The firm’s revenue was up 34.5% on a year-over-year basis.

Institutional Trading of LGN

A number of large investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new position in LGN in the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new position in LGN in the 4th quarter valued at $64,000. Kestra Advisory Services LLC acquired a new position in LGN in the 4th quarter valued at $91,000. Clearstead Advisors LLC acquired a new position in LGN in the 4th quarter valued at $140,000. Finally, Comerica Bank acquired a new position in LGN in the 4th quarter valued at $192,000.

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.