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In a remarkable display of market confidence, Lennox International Inc. (NYSE:LII) stock has reached an all-time high, touching a price level of $653.89. This significant milestone underscores the company's robust performance over the past year, which is reflected in an impressive 1-year change of 58.96%. Investors have shown their enthusiasm for Lennox's strategic initiatives and growth prospects, propelling the stock to new heights and setting a record that marks a pinnacle in the company's trading history.
In other recent news, Lennox International has reported impressive earnings and revenue results in the third quarter of 2024, with core revenue increasing by 15% to approximately $1.5 billion and adjusted earnings per share rising by 24% to $6.68. In response to these strong results, the company has revised its full-year guidance for 2024. Both the Home Comfort Solutions and Building Climate Solutions sectors experienced 15% revenue growth.
Mizuho (NYSE:MFG) Securities has maintained its Outperform rating on Lennox and increased the stock's price target, following the company's third-quarter results. RBC Capital has also maintained its Sector Perform rating on Lennox while increasing the stock's price target. The company is progressing with its new R454-B pricing initiatives and expects a price increase of over 10%.
Lennox International is strategically building its R-410A inventory due to product scarcity, with expectations that pricing for this older product will be more favorable next year. The company sees a significant opportunity for growth in its Commercial Heating, Ventilation, and Air Conditioning (CHVAC) segment. Lennox International has identified the emergency market recapture as a potential upside lever. These are recent developments that investors should take note of.
InvestingPro Insights
Lennox International's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market capitalization stands at an impressive $23.28 billion, reflecting its strong position in the HVAC industry. InvestingPro data shows that Lennox has delivered a remarkable 53.67% total return over the past year, consistent with the article's mention of a 58.96% 1-year change.
Two particularly relevant InvestingPro Tips highlight Lennox's financial strength and market position. Firstly, the company "has raised its dividend for 14 consecutive years," demonstrating a commitment to shareholder value that likely contributes to investor confidence. Secondly, Lennox is "trading near its 52-week high," which corroborates the article's mention of the stock reaching an all-time high.
Additionally, Lennox's revenue growth of 4.68% over the last twelve months and a strong EBITDA growth of 20.8% in the same period suggest solid operational performance, potentially driving the stock's upward trajectory.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips that could provide further insights into Lennox International's financial health and market position.
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