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

LGN (NASDAQ:LGN)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $91.50 and last traded at $89.8710, with a volume of 1449 shares changing hands. The stock had previously closed at $90.10.

Analyst Ratings Changes

LGN has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. BTIG Research boosted their target price on shares of LGN from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Glj Research initiated coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

LGN Stock Up 0.9%

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $9.82 billion and a price-to-earnings ratio of -9,109.60. The firm has a 50 day simple moving average of $60.57.

LGN (NASDAQ:LGN) last posted 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 firm had revenue of $737.64 million for the quarter, compared to analyst estimates of $616.05 million. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. On average, equities analysts expect that LGN will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On LGN

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new position in shares of LGN in the first quarter worth $2,282,000. Conestoga Capital Advisors LLC acquired a new position in shares of LGN in the first quarter worth $23,479,000. Pictet Asset Management Holding SA increased its stake in shares of LGN by 349.6% in the first quarter. Pictet Asset Management Holding SA now owns 179,842 shares of the company’s stock worth $10,154,000 after acquiring an additional 139,842 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of LGN in the fourth quarter worth $2,559,000. Finally, Mariner Investment Group LLC acquired a new position in shares of LGN in the fourth quarter worth $430,000.

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.