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

LGN (NASDAQ:LGN) hit a new 52-week high during trading on Thursday . The company traded as high as $107.24 and last traded at $95.6760, with a volume of 223738 shares changing hands. The stock had previously closed at $100.00.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LGN shares. Weiss Ratings began coverage on shares of LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Guggenheim raised their target price on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Loop Capital started coverage on LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. Glj Research initiated coverage on LGN in a research report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target for the company. Finally, BMO Capital Markets increased their price target on LGN from $46.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, March 30th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, LGN currently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

LGN Stock Down 9.6%

The stock has a market cap of $9.77 billion and a PE ratio of -9,053.60. The stock has a 50-day moving average price of $66.67. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last posted its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $1.04 billion for the quarter. The firm’s revenue for the quarter was up 105.2% on a year-over-year basis. Sell-side analysts anticipate that LGN will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in LGN during the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of LGN in the 4th quarter valued at $64,000. KBC Group NV purchased a new position in shares of LGN during the 1st quarter worth $66,000. Kestra Advisory Services LLC purchased a new position in shares of LGN during the 4th quarter worth $91,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of LGN during the 4th quarter worth about $140,000.

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.