Stifel Nicolaus Cuts Limbach (NASDAQ:LMB) Price Target to $86.00

Limbach (NASDAQ:LMB) had its target price decreased by Stifel Nicolaus from $107.00 to $86.00 in a research note issued to investors on Monday morning, MarketBeat.com reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Limbach presently has a consensus rating of “Hold” and a consensus price target of $88.00.

Limbach Trading Down 3.1%

Shares of LMB opened at $44.95 on Monday. The firm’s 50-day moving average price is $73.61 and its 200-day moving average price is $80.39. The firm has a market capitalization of $536.25 million, a price-to-earnings ratio of 17.98 and a beta of 1.45. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. Limbach has a 1-year low of $44.50 and a 1-year high of $128.57.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The company had revenue of $173.46 million for the quarter, compared to analysts’ expectations of $177.33 million. Sell-side analysts anticipate that Limbach will post 4.17 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the transaction, the executive vice president directly owned 73,456 shares in the company, valued at $5,863,257.92. The trade was a 6.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LMB. Caitong International Asset Management Co. Ltd lifted 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 in the last quarter. Comerica Bank increased its holdings in Limbach by 24.0% in the 1st 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. State of Wyoming bought a new stake in Limbach in the 2nd quarter worth about $71,000. Fifth Third Bancorp purchased a new position in Limbach in the 1st quarter worth about $85,000. Finally, Royal Bank of Canada raised its position in Limbach by 34.5% in the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after buying an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

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.