Stifel Nicolaus Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB) had its price target boosted by Stifel Nicolaus from $110.00 to $117.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 17.13% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Roth Mkm lifted their target price on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Limbach Price Performance

Shares of LMB traded down $5.45 during trading hours on Friday, reaching $99.89. The company had a trading volume of 28,597 shares, compared to its average volume of 214,143. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 2.78 and a beta of 1.11. Limbach has a 12-month low of $38.03 and a 12-month high of $107.00. The firm has a 50 day simple moving average of $94.76 and a 200-day simple moving average of $78.78. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The business had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. Research analysts expect that Limbach will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Limbach

In other Limbach news, Director David Richard Gaboury bought 531 shares of Limbach stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the transaction, the director now owns 2,071 shares of the company’s stock, valued at $195,730.21. This represents a 34.48 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LMB. Harbor Capital Advisors Inc. grew its stake in shares of Limbach by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after buying an additional 162 shares in the last quarter. American Capital Advisory LLC acquired a new stake in Limbach in the third quarter valued at approximately $25,000. Thrivent Financial for Lutherans raised its stake in shares of Limbach by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock valued at $3,560,000 after purchasing an additional 382 shares during the period. Empowered Funds LLC lifted its position in shares of Limbach by 4.9% during the third quarter. Empowered Funds LLC now owns 8,618 shares of the construction company’s stock worth $653,000 after purchasing an additional 402 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Limbach by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company’s stock valued at $393,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

About Limbach

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.