LGN (NASDAQ:LGN) Reaches New 1-Year High - What's Next?

Key Points

• LGN hit a new 52-week high, trading as high as $60.50 on Monday and last at $57.14 with about 1.2 million shares changing hands.
• Several analysts raised price targets (RBC to $64, BMO to $63, BTIG to $75) and the stock holds a consensus "Moderate Buy" rating with an average target of $62.25.
• In the latest quarter LGN missed EPS ($-0.55 vs. $0.05 est.) but beat revenue estimates with $737.64M (up 34.5% year-over-year, vs. $616.05M expected).

LGN (NASDAQ:LGN - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $60.50 and last traded at $57.1410, with a volume of 1198791 shares trading hands. The stock had previously closed at $58.68.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on LGN from $48.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Stifel Nicolaus upped their target price on LGN from $58.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. BMO Capital Markets lifted their price target on shares of LGN from $46.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Tigress Financial restated a "buy" rating and issued a $60.00 price objective on shares of LGN in a report on Friday, March 27th. Finally, BTIG Research lifted 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. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.25.

LGN Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57. The stock's 50-day moving average price is $52.04. The firm has a market capitalization of $6.17 billion and a P/E ratio of -5,593.50.

LGN (NASDAQ:LGN - Get Free Report) last announced its 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 business had revenue of $737.64 million for the quarter, compared to analyst estimates of $616.05 million. The firm's quarterly revenue was up 34.5% on a year-over-year basis.

Institutional Investors Weigh In On LGN

Institutional investors have recently modified their holdings of the stock. Assetmark Inc. purchased a new position in shares of LGN in the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of LGN in the fourth quarter worth approximately $64,000. Kestra Advisory Services LLC bought a new position in shares of LGN in the fourth quarter worth approximately $91,000. Clearstead Advisors LLC purchased a new stake in shares of LGN during the fourth quarter valued at approximately $140,000. Finally, Comerica Bank purchased a new stake in shares of LGN during 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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