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

Key Points

• Shares of LGN hit a new 52-week high of $64.78 (last $64.35) and trade above the 50‑day moving average of $52.84; analysts have a consensus Moderate Buy rating with an average target of $62.25 and several firms raising targets (RBC to $64).
• The company missed EPS expectations, reporting ($0.55) versus an estimate of $0.05, but posted a revenue beat of $737.6M (up 34.5% YoY).
• Legence remains unprofitable (P/E of -6,382) with a market cap of about $6.9B and liquidity ratios (quick/current ratio 1.57) and debt/equity of 1.03—key fundamentals investors should consider despite the recent price rise.

Shares of LGN (NASDAQ:LGN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $64.78 and last traded at $64.3480, with a volume of 110177 shares traded. The stock had previously closed at $63.20.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on LGN from $48.00 to $64.00 and gave the stock an "outperform" rating in a report on Monday, March 30th. Stifel Nicolaus boosted their price objective on LGN from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. Weiss Ratings assumed coverage on LGN in a research note on Wednesday, January 14th. They set a "sell (d+)" rating on the stock. Tigress Financial reissued a "buy" rating and set a $60.00 price objective on shares of LGN in a research note on Friday, March 27th. Finally, Zacks Research cut LGN from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.25.

LGN Stock Up 1.0%

The business has a 50 day moving average of $52.84. The company has a market capitalization of $6.90 billion and a P/E ratio of -6,382.00. 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 - Get Free Report) last announced its earnings results on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.60). The business had revenue of $737.64 million during the quarter, compared to analyst estimates of $616.05 million. The firm's revenue for the quarter was up 34.5% on a year-over-year basis.

Institutional Inflows and Outflows

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

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