Limbach Holdings, Inc. (NASDAQ:LMB) Receives $116.67 Average Price Target from Analysts

Limbach Holdings, Inc. (NASDAQ:LMB) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $116.6667.

Several research analysts have recently issued reports on LMB shares. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus dropped their price objective on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a report on Monday, January 26th. JPMorgan Chase & Co. cut their target price on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th.

Limbach Stock Performance

LMB opened at $80.80 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $943.74 million, a price-to-earnings ratio of 24.94 and a beta of 1.31. The firm has a 50 day simple moving average of $85.12 and a 200 day simple moving average of $84.83. Limbach has a fifty-two week low of $63.02 and a fifty-two week high of $154.05.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Monday, March 2nd. The construction company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The firm had revenue of $186.87 million for the quarter, compared to analysts’ expectations of $197.56 million. During the same period last year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, sell-side analysts anticipate that Limbach will post 2.54 earnings per share for the current year.

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

Insider Buying and Selling at Limbach

In related news, EVP Jay Sharp sold 2,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the sale, the executive vice president owned 79,027 shares of the company’s stock, valued at approximately $6,321,369.73. This trade represents a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jayme L. Brooks sold 9,910 shares of Limbach stock in a transaction dated Tuesday, March 17th. The stock was 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 in the company, valued at approximately $11,057,320. This represents a 6.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Limbach

Institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in Limbach by 353.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after buying an additional 573,136 shares during the period. Invesco Ltd. lifted its stake in Limbach by 2,041.6% in the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after buying an additional 381,897 shares in the last quarter. First Trust Advisors LP boosted its holdings 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 valued at $57,606,000 after buying an additional 379,357 shares during the period. Wasatch Advisors LP increased its position in shares of Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after acquiring an additional 273,818 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its position in shares of Limbach by 151.5% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company’s stock worth $24,775,000 after acquiring an additional 191,685 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.