Analysts Set Limbach Holdings, Inc. (NASDAQ:LMB) Price Target at $120.00

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $120.00.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. started coverage on Limbach in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price target for the company. Stifel Nicolaus decreased their target price on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen cut shares of Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th.

Limbach Price Performance

Shares of LMB opened at $86.13 on Thursday. Limbach has a twelve month low of $63.02 and a twelve month high of $154.05. The company has a market capitalization of $1.00 billion, a P/E ratio of 28.33 and a beta of 1.29. The firm has a 50 day moving average of $80.07 and a 200 day moving average of $93.31. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

Limbach announced that its board has approved a share repurchase program on Monday, December 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 5.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at $5,067,062.42. This represents a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Limbach in the 2nd quarter worth $868,000. Castleark Management LLC purchased a new position in Limbach during the second quarter valued at $2,962,000. Thrivent Financial for Lutherans grew its holdings in Limbach by 353.8% during the third quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after purchasing an additional 573,136 shares during the period. Nadler Financial Group Inc. purchased a new stake in Limbach in the second quarter worth about $240,000. Finally, First Trust Advisors LP raised its stake in shares of Limbach by 1,192.1% in the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after buying an additional 379,357 shares during the period. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.