LGN (NASDAQ:LGN) Hits New 1-Year High - Time to Buy?

Key Points

• LGN hit a new 52-week high of $74.50 on Monday, trading up about 3% on roughly 582,515 shares.
• Analysts are mostly positive—7 Buys, 2 Holds and 1 Sell—with an average price target of $66.50, though several firms recently raised targets (Goldman Sachs to $72, RBC to $64).
• The company posted a quarterly EPS miss of ($0.55) vs. $0.05 expected, but revenue beat at $737.6 million (up 34.5% year‑over‑year), signaling strong top-line growth despite losses.

LGN (NASDAQ:LGN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $74.50 and last traded at $74.39, with a volume of 582515 shares changing hands. The stock had previously closed at $73.77.

Analyst Upgrades and Downgrades

LGN has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their target price on shares of LGN from $48.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Zacks Research cut shares of LGN from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Barclays increased their target price on shares of LGN from $37.00 to $45.00 and gave the company an "equal weight" rating in a report on Friday, January 23rd. The Goldman Sachs Group increased their target price on shares of LGN from $63.00 to $72.00 and gave the company a "buy" rating in a report on Thursday. Finally, Stifel Nicolaus increased their target price on shares of LGN from $58.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.50.

LGN Trading Up 3.0%

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 firm has a 50 day moving average of $54.99. The firm has a market capitalization of $8.21 billion and a price-to-earnings ratio of -7,581.00.

LGN (NASDAQ:LGN - Get Free Report) last released its earnings results on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60). The business had revenue of $737.64 million for the quarter, compared to analysts' expectations of $616.05 million. LGN's revenue was up 34.5% compared to the same quarter last year.

Institutional Trading of LGN

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new stake in LGN in the 4th quarter worth approximately $2,559,000. Mariner Investment Group LLC purchased a new stake in LGN in the 4th quarter worth approximately $430,000. Invesco Ltd. purchased a new stake in LGN in the 4th quarter worth approximately $1,014,000. Alberta Investment Management Corp grew its stake in LGN by 30.9% in the 4th quarter. Alberta Investment Management Corp now owns 392,738 shares of the company's stock worth $16,903,000 after acquiring an additional 92,738 shares during the period. Finally, Regal Partners Ltd purchased a new stake in LGN in the 4th quarter worth approximately $1,076,000.

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.

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