LGN (NASDAQ:LGN) Reaches New 12-Month High – What’s Next?

LGN (NASDAQ:LGN)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $60.50 and last traded at $57.1410, with a volume of 1198791 shares. The stock had previously closed at $58.68.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LGN. Barclays lifted their price target on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. BTIG Research lifted their price objective on shares of LGN from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Weiss Ratings assumed coverage on shares of LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Tigress Financial reiterated a “buy” rating and set a $60.00 price objective on shares of LGN in a research report on Friday, March 27th. Finally, Guggenheim lifted their price objective 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. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, LGN presently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

LGN Trading Down 0.2%

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 has a market cap of $5.94 billion and a PE ratio of -5,498.00. The business has a 50-day moving average of $52.22.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share 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. The business’s revenue was up 34.5% compared to the same quarter last year.

Institutional Investors Weigh In On LGN

A number of institutional investors have recently modified their holdings of LGN. Janus Henderson Group PLC boosted its stake in shares of LGN by 128.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after buying an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of LGN during the 4th quarter valued at $69,438,000. Vanguard Group Inc. boosted its stake in shares of LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after buying an additional 1,415,282 shares during the period. Munro Partners boosted its stake in shares of LGN by 1,875.9% during the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after buying an additional 1,325,957 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of LGN by 2,209.7% during the 4th quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after buying an additional 754,157 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.