Limbach (NASDAQ:LMB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Limbach (NASDAQ:LMB) had its price objective upped by Stifel Nicolaus from $141.00 to $151.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price points to a potential upside of 1.08% from the stock’s current price.

A number of other equities analysts have also commented on the company. Lake Street Capital boosted their price objective on Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Capital reissued a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Limbach Stock Performance

Shares of NASDAQ:LMB opened at $149.39 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 53.54, a price-to-earnings-growth ratio of 2.77 and a beta of 1.19. The business’s fifty day moving average price is $127.51 and its two-hundred day moving average price is $100.30. Limbach has a fifty-two week low of $48.17 and a fifty-two week high of $154.05.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The company had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, analysts predict that Limbach will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the transaction, the insider owned 69,877 shares of the company’s stock, valued at $9,607,388.73. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

Several large investors have recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in shares of Limbach during the first quarter worth about $11,705,000. Next Century Growth Investors LLC bought a new position in shares of Limbach during the fourth quarter worth about $13,374,000. Lord Abbett & CO. LLC bought a new position in shares of Limbach during the first quarter worth about $9,693,000. First Trust Advisors LP grew its holdings in shares of Limbach by 67.5% during the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock worth $27,578,000 after buying an additional 129,869 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Limbach by 81.7% during the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after buying an additional 74,986 shares in the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Company Profile

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.