LGN (NASDAQ:LGN) Sets New 12-Month High - Should You Buy?

Key Points

• LGN hit a new 52-week high, trading as high as $91.50 (last around $89.87) during mid-day action on Monday with volume of 1,449 shares.
• Analyst sentiment is mixed but generally positive — MarketBeat shows an average rating of "Moderate Buy" with an average price target of $72.70, while several firms recently raised targets (e.g., GLJ $99, BMO to $63, Guggenheim to $68).
• The latest quarter showed an EPS miss (‑$0.55 vs. $0.05 expected) but a revenue beat of $737.6M (up 34.5% YoY); the company carries a negative P/E and analysts expect 1.31 EPS for the current year.

LGN (NASDAQ:LGN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $91.50 and last traded at $89.8710, with a volume of 1449 shares. The stock had previously closed at $90.10.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LGN shares. BMO Capital Markets boosted their price objective on LGN from $46.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Glj Research started coverage on LGN in a research report on Tuesday, April 21st. They set a "buy" rating and a $99.00 price objective for the company. Barclays boosted their price objective on LGN from $37.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Weiss Ratings assumed coverage on LGN in a research report on Wednesday, January 14th. They issued a "sell (d+)" rating for the company. Finally, Guggenheim upped their target price on LGN from $53.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $72.70.

LGN Price Performance

The company has a market capitalization of $9.82 billion and a P/E ratio of -9,109.60. The firm's fifty day simple moving average is $60.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.57.

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 analysts' consensus estimates of $0.05 by ($0.60). The firm had revenue of $737.64 million during the quarter, compared to the consensus estimate of $616.05 million. The company's revenue for the quarter was up 34.5% compared to the same quarter last year. On average, analysts anticipate that LGN will post 1.31 EPS for the current year.

Hedge Funds Weigh In On LGN

Hedge funds and other institutional investors have recently modified their holdings of the stock. Freestone Capital Holdings LLC acquired a new position in shares of LGN in the 4th quarter valued at $1,153,000. Harbor Capital Advisors Inc. acquired a new position in shares of LGN in the 4th quarter valued at $1,220,000. Asset Management One Co. Ltd. acquired a new position in shares of LGN in the 4th quarter valued at $3,681,000. LBP AM SA acquired a new position in shares of LGN in the 4th quarter valued at $2,887,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in LGN during the 4th quarter valued at $3,179,000.

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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