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

Limbach (NASDAQ:LMB) had its price objective cut by research analysts at JPMorgan Chase & Co. from $100.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.05% from the company’s current price.

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

Limbach Price Performance

LMB stock traded down $4.07 during midday trading on Thursday, reaching $78.91. 131,895 shares of the stock were exchanged, compared to its average volume of 177,608. Limbach has a 52 week low of $63.02 and a 52 week high of $154.05. The company has a fifty day moving average price of $85.32 and a 200 day moving average price of $85.29. 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 stock has a market capitalization of $921.68 million, a PE ratio of 24.42 and a beta of 1.32.

Limbach (NASDAQ:LMB) last announced its quarterly 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 firm had revenue of $186.87 million for the quarter, compared to analyst estimates of $197.56 million. During the same period last year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, analysts expect that Limbach will post 2.54 EPS for the current fiscal year.

Limbach announced that its board has approved a stock buyback plan on Monday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Limbach news, EVP Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the completion of the transaction, the executive vice president owned 79,027 shares in the company, valued at approximately $6,321,369.73. The trade was a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jayme L. Brooks sold 9,910 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total value of $778,529.60. Following the completion of the sale, the chief financial officer directly owned 140,750 shares of the company’s stock, valued at approximately $11,057,320. This trade represents a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Limbach

Institutional investors have recently bought and sold shares of the stock. Capital International Investors lifted its stake in Limbach by 10.7% during the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock valued at $62,670,000 after acquiring an additional 62,483 shares in the last quarter. Castleark Management LLC bought a new stake in shares of Limbach in the 2nd quarter worth $2,962,000. Thrivent Financial for Lutherans raised its holdings in shares of Limbach by 353.8% in 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 last quarter. First Trust Advisors LP raised 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 purchasing an additional 379,357 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Limbach by 6.6% during the second quarter. Geode Capital Management LLC now owns 269,271 shares of the construction company’s stock valued at $37,730,000 after purchasing an additional 16,579 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

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.