Limbach (NASDAQ:LMB) Given New $156.00 Price Target at Lake Street Capital

Limbach (NASDAQ:LMB) had its price objective boosted by Lake Street Capital from $125.00 to $156.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other analysts have also issued reports on the stock. Roth Capital restated a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. Stifel Nicolaus boosted their target price on shares of Limbach from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Limbach Trading Up 2.5%

NASDAQ LMB opened at $149.39 on Wednesday. The company’s fifty day simple moving average is $128.65 and its 200-day simple moving average is $100.71. Limbach has a 52 week low of $48.17 and a 52 week high of $154.05. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.74 billion, a P/E ratio of 53.54, a PEG ratio of 2.84 and a beta of 1.19.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock valued at $28,000 after acquiring an additional 320 shares during the period. Legacy Advisors LLC acquired a new position in shares of Limbach during the first quarter valued at $30,000. IFP Advisors Inc acquired a new stake in Limbach in the fourth quarter worth about $37,000. Comerica Bank lifted its holdings in Limbach by 727.4% in the fourth quarter. Comerica Bank now owns 695 shares of the construction company’s stock worth $59,000 after purchasing an additional 611 shares during the period. Finally, AlphaQuest LLC acquired a new stake in Limbach in the first quarter worth about $53,000. 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.