Limbach (NASDAQ:LMB) Price Target Lowered to $104.00 at Stifel Nicolaus

Limbach (NASDAQ:LMB) had its price objective lowered by stock analysts at Stifel Nicolaus from $111.00 to $104.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 27.75% from the stock’s previous close.

Several other equities analysts also recently commented on LMB. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.00.

Limbach Trading Down 6.2%

Limbach stock opened at $81.41 on Monday. The business has a 50 day moving average price of $76.92 and a two-hundred day moving average price of $96.91. 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 has a 12 month low of $63.02 and a 12 month high of $154.05. The stock has a market cap of $946.80 million, a price-to-earnings ratio of 26.78 and a beta of 1.26.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The firm had revenue of $184.58 million for the quarter, compared to the consensus estimate of $184.48 million. Limbach had a net margin of 6.06% and a return on equity of 30.80%. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. As a group, equities analysts forecast that Limbach will post 2.54 EPS for the current year.

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

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Limbach

A number of large investors have recently bought and sold shares of LMB. Harbor Capital Advisors Inc. grew its position in shares of Limbach by 13.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,555 shares of the construction company’s stock worth $432,000 after buying an additional 673 shares during the period. Cassilly Financial Group LLC purchased a new stake in Limbach in the 4th quarter worth approximately $251,000. SG Americas Securities LLC increased its holdings in shares of Limbach by 42.6% in the fourth quarter. SG Americas Securities LLC now owns 2,325 shares of the construction company’s stock worth $181,000 after purchasing an additional 695 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Limbach in the third quarter worth $54,000. Finally, Kestra Private Wealth Services LLC boosted its stake in Limbach by 18.1% during the third quarter. Kestra Private Wealth Services LLC now owns 5,003 shares of the construction company’s stock valued at $486,000 after buying an additional 768 shares during the period. 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.