Limbach Holdings, Inc. (NASDAQ:LMB) Receives $120.00 Consensus Target Price from Brokerages

Limbach Holdings, Inc. (NASDAQ:LMB) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $120.00.

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

Limbach Trading Down 0.5%

Shares of LMB opened at $87.06 on Monday. The company has a market capitalization of $1.02 billion, a P/E ratio of 26.87 and a beta of 1.32. Limbach has a one year low of $63.02 and a one year high of $154.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.44. The stock has a 50-day moving average price of $85.63 and a 200 day moving average price of $89.26.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Monday, March 2nd. The construction company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. The company had revenue of $186.87 million for the quarter, compared to the consensus estimate of $197.56 million. Limbach had a return on equity of 30.73% and a net margin of 6.04%.Limbach’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. Sell-side analysts forecast that Limbach will post 2.54 EPS for the current fiscal year.

Limbach announced that its board has authorized a stock repurchase plan on Monday, December 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after purchasing an additional 130 shares during the last quarter. Comerica Bank boosted its position in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the period. Caxton Associates LLP grew its stake in Limbach by 4.9% during the 3rd quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock worth $352,000 after buying an additional 168 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock worth $537,000 after buying an additional 204 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Limbach by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after buying an additional 241 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.