Limbach (NASDAQ:LMB) Sets New 12-Month High After Analyst Upgrade

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) hit a new 52-week high during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $130.00 to $141.00. Stifel Nicolaus currently has a buy rating on the stock. Limbach traded as high as $137.05 and last traded at $134.20, with a volume of 17754 shares trading hands. The stock had previously closed at $133.16.

Other equities research analysts also recently issued reports about the company. Lake Street Capital increased their price target on Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Roth Capital restated a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.33.

Insiders Place Their Bets

In other news, Director Joshua Horowitz sold 25,400 shares of Limbach stock in a transaction on Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now directly owns 164,600 shares in the company, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Limbach by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company’s stock valued at $47,220,000 after acquiring an additional 29,685 shares during the period. Wasatch Advisors LP increased its holdings in shares of Limbach by 0.4% in the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock valued at $32,025,000 after acquiring an additional 1,546 shares during the period. First Trust Advisors LP increased its holdings in shares of Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock valued at $27,578,000 after acquiring an additional 129,869 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Limbach by 2.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after acquiring an additional 7,771 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of Limbach by 25.7% in the 1st quarter. Royce & Associates LP now owns 254,500 shares of the construction company’s stock valued at $18,953,000 after acquiring an additional 52,030 shares during the period. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $1.57 billion, a PE ratio of 61.35, a P/E/G ratio of 2.22 and a beta of 1.08. The stock has a fifty day moving average price of $101.26 and a 200-day moving average price of $94.12.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million during the quarter, compared to analysts’ expectations of $121.06 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Sell-side analysts forecast 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.