LGN (NASDAQ:LGN) Hits New 12-Month High – Here’s What Happened

LGN (NASDAQ:LGN) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $57.96 and last traded at $57.32, with a volume of 791366 shares traded. The stock had previously closed at $55.76.

Analysts Set New Price Targets

LGN has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Stifel Nicolaus lifted their price objective on shares of LGN from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. Tigress Financial increased their price target on shares of LGN from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings initiated coverage on LGN in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating for the company. Finally, Barclays upped their price target on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and a consensus target price of $53.75.

LGN Trading Up 1.3%

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 Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. acquired a new stake in LGN in the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd acquired a new stake in LGN during the fourth quarter worth about $64,000. Kestra Advisory Services LLC purchased a new position in LGN during the fourth quarter worth about $91,000. Clearstead Advisors LLC acquired a new position in LGN in the 4th quarter valued at about $140,000. Finally, Comerica Bank purchased a new stake in shares of LGN in the 4th quarter valued at approximately $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.