LGN (NASDAQ:LGN) Reaches New 12-Month High – Time to Buy?

LGN (NASDAQ:LGN) shares reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $55.48 and last traded at $55.24, with a volume of 2093827 shares trading hands. The stock had previously closed at $47.28.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings assumed coverage on shares of LGN in a report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Stifel Nicolaus lifted their target price on shares of LGN from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, January 26th. The Goldman Sachs Group boosted their price target on shares of LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Barclays increased their price target on shares of LGN from $37.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.75.

LGN Price Performance

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

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