LGN (NASDAQ:LGN) Hits New 12-Month High – Here’s What Happened

LGN (NASDAQ:LGN) reached a new 52-week high during trading on Thursday . The company traded as high as $107.24 and last traded at $95.6760, with a volume of 223738 shares changing hands. The stock had previously closed at $100.00.

Wall Street Analyst Weigh In

LGN has been the subject of several research analyst reports. Glj Research began coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price for the company. Guggenheim upped their price objective on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. The Goldman Sachs Group increased their price objective on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Royal Bank Of Canada lifted 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. Finally, Tigress Financial boosted their target price on LGN from $60.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, LGN currently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

LGN Trading Down 9.6%

The stock has a market cap of $9.77 billion and a P/E ratio of -9,053.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.57. The stock’s fifty day moving average price is $66.67.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The business’s revenue for the quarter was up 105.2% compared to the same quarter last year. Equities analysts forecast that LGN will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On LGN

Several institutional investors have recently modified their holdings of LGN. Assetmark Inc. purchased a new stake in shares of LGN during the fourth quarter worth $31,000. KBC Group NV acquired a new position in LGN during the 1st quarter worth $66,000. Aster Capital Management DIFC Ltd purchased a new stake in LGN during the 4th quarter worth about $64,000. Clearbridge Investments LLC raised its position in LGN by 0.4% in the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock valued at $17,288,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Symmetry Investments LP boosted its stake in shares of LGN by 21.9% in the 4th quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock valued at $420,000 after buying an additional 1,750 shares during the period.

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.