Limbach (NASDAQ:LMB) Trading 11.4% Higher Following Analyst Upgrade

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) traded up 11.4% during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $141.00 to $151.00. Stifel Nicolaus currently has a buy rating on the stock. Limbach traded as high as $154.05 and last traded at $162.37. 151,710 shares were traded during trading, a decline of 17% from the average session volume of 182,654 shares. The stock had previously closed at $145.77.

Other analysts also recently issued research reports about the stock. Roth Capital reissued a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. Lake Street Capital boosted their price objective on shares of Limbach from $125.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $129.00.

Insider Buying and Selling at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 69,877 shares of the company’s stock, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Limbach

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Limbach by 16,413.0% during the 1st quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company’s stock worth $283,000 after acquiring an additional 3,775 shares during the period. ProShare Advisors LLC bought a new stake in shares of Limbach during the 4th quarter worth approximately $246,000. US Bancorp DE acquired a new position in Limbach during the 4th quarter worth approximately $115,000. Man Group plc acquired a new position in Limbach during the 4th quarter worth approximately $356,000. Finally, Harbor Capital Advisors Inc. increased its position in Limbach by 43.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,656 shares of the construction company’s stock worth $272,000 after purchasing an additional 1,103 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

The stock’s 50-day moving average is $128.65 and its 200-day moving average is $100.71. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 2.84 and a beta of 1.19. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15.

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

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.