LGN (NASDAQ:LGN) Hits New 12-Month High - What's Next?

Key Points

• LGN hit a new 52-week high, trading as high as $82.54 and last at $81.42 on volume of 923,238 shares.
• Wall Street sentiment is largely positive with a MarketBeat consensus of Moderate Buy and a consensus target price of $70.11 after multiple firms raised targets (e.g., Goldman $72, BTIG $75, Guggenheim $68, BMO $63).
• In the most recent quarter LGN missed EPS ($-0.55 vs. $0.05 expected) but beat revenue forecasts with $737.64M, up 34.5% year-over-year.

LGN (NASDAQ:LGN - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $82.54 and last traded at $81.42, with a volume of 923238 shares traded. The stock had previously closed at $80.40.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LGN. Guggenheim increased their target price on shares of LGN from $53.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. The Goldman Sachs Group raised their price target on LGN from $63.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. BMO Capital Markets raised their price target on LGN from $46.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, March 30th. BTIG Research raised their price target on LGN from $45.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, March 27th. Finally, Zacks Research lowered LGN from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LGN presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.11.

LGN Stock Up 1.3%

The firm's 50-day moving average is $57.76. 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 stock has a market cap of $8.80 billion and a P/E ratio of -8,143.00.

LGN (NASDAQ:LGN - Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.55) EPS 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 the consensus estimate of $616.05 million. LGN's revenue for the quarter was up 34.5% compared to the same quarter last year. Analysts anticipate that LGN will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On LGN

Large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in LGN during the fourth quarter valued at $1,220,000. Assetmark Inc. bought a new stake in LGN during the fourth quarter valued at $31,000. Freestone Capital Holdings LLC bought a new stake in LGN during the fourth quarter valued at $1,153,000. Capelight Capital Asset Management LP bought a new stake in LGN during the fourth quarter valued at $4,089,000. Finally, LBP AM SA bought a new stake in LGN during the fourth quarter valued at $2,887,000.

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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