LGN (NASDAQ:LGN) Hits New 52-Week High – What’s Next?

LGN (NASDAQ:LGN) hit a new 52-week high during trading on Saturday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LGN shares. Tigress Financial boosted their price objective on shares of LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Barclays lifted their target price 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. Stifel Nicolaus boosted their price target on shares of LGN from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. The Goldman Sachs Group raised their price objective on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, LGN has a consensus rating of “Moderate Buy” and a consensus price target of $53.75.

LGN Trading Up 16.8%

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

Hedge Funds Weigh In On LGN

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of LGN during the fourth quarter worth about $1,220,000. Assetmark Inc. bought a new position in LGN during the 4th quarter valued at approximately $31,000. Freestone Capital Holdings LLC bought a new position in LGN during the 4th quarter valued at approximately $1,153,000. Capelight Capital Asset Management LP purchased a new stake in LGN in the 4th quarter worth approximately $4,089,000. Finally, LBP AM SA bought a new stake in shares of LGN in the 4th quarter worth approximately $2,887,000.

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.