Limbach (NASDAQ:LMB) Price Target Cut to $90.00 by Analysts at JPMorgan Chase & Co.

Limbach (NASDAQ:LMB) had its price objective decreased by JPMorgan Chase & Co. from $100.00 to $90.00 in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Stifel Nicolaus decreased their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.67.

Limbach Stock Down 3.2%

LMB stock opened at $80.33 on Thursday. Limbach has a fifty-two week low of $63.02 and a fifty-two week high of $154.05. The business’s 50 day moving average price is $85.19 and its two-hundred day moving average price is $85.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $938.25 million, a price-to-earnings ratio of 24.79 and a beta of 1.32.

Limbach (NASDAQ:LMB) last released its earnings results on Monday, March 2nd. The construction company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The company had revenue of $186.87 million during the quarter, compared to analysts’ expectations of $197.56 million. During the same quarter last year, the business posted $1.15 EPS. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, analysts forecast that Limbach will post 2.54 earnings per share for the current fiscal year.

Limbach declared that its Board of Directors has initiated a share buyback plan on Monday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Limbach

In other Limbach news, EVP Jay Sharp sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $79.99, for a total value of $159,980.00. Following the sale, the executive vice president directly owned 79,027 shares of the company’s stock, valued at approximately $6,321,369.73. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jayme L. Brooks sold 9,910 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $78.56, for a total value of $778,529.60. Following the transaction, the chief financial officer owned 140,750 shares of the company’s stock, valued at $11,057,320. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 9.70% of the company’s stock.

Institutional Trading of Limbach

Several institutional investors have recently bought and sold shares of LMB. Caitong International Asset Management Co. Ltd purchased a new position in Limbach in the third quarter worth about $54,000. Comerica Bank lifted its stake in shares of Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Limbach by 59.7% during the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock valued at $158,000 after buying an additional 423 shares during the last quarter. Royal Bank of Canada increased its position in shares of Limbach by 34.5% during the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after acquiring an additional 371 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Limbach by 85.0% during the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after acquiring an additional 749 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

About Limbach

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.