Limbach (NASDAQ:LMB) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Limbach (NASDAQ:LMB) had its price target increased by research analysts at Lake Street Capital from $100.00 to $125.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Lake Street Capital’s price target would indicate a potential upside of 33.41% from the company’s current price.

A number of other brokerages also recently commented on LMB. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price objective on Limbach from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Roth Mkm lifted their price objective on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Limbach Price Performance

Shares of LMB traded up $3.82 during mid-day trading on Tuesday, hitting $93.69. The company’s stock had a trading volume of 30,754 shares, compared to its average volume of 201,897. The firm has a 50-day simple moving average of $94.61 and a 200 day simple moving average of $80.91. The firm has a market capitalization of $1.06 billion, a P/E ratio of 42.66, a P/E/G ratio of 2.46 and a beta of 1.11. Limbach has a 1-year low of $38.03 and a 1-year high of $107.00. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. Analysts predict that Limbach will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In related news, Director David Richard Gaboury bought 531 shares of the stock in a transaction dated Tuesday, December 10th. The stock was bought at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the acquisition, the director now owns 2,071 shares of the company’s stock, valued at $195,730.21. This trade represents a 34.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Limbach

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its holdings in Limbach by 6.7% in the 3rd quarter. Wasatch Advisors LP now owns 372,836 shares of the construction company’s stock worth $28,246,000 after buying an additional 23,360 shares in the last quarter. Corsair Capital Management L.P. grew its holdings in Limbach by 1.3% in the 3rd quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock worth $23,740,000 after buying an additional 3,988 shares in the last quarter. Royce & Associates LP grew its holdings in Limbach by 35.3% in the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after buying an additional 65,082 shares in the last quarter. Geode Capital Management LLC boosted its stake in Limbach by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock valued at $18,068,000 after purchasing an additional 5,093 shares in the last quarter. Finally, State Street Corp boosted its stake in Limbach by 11.1% during the 3rd quarter. State Street Corp now owns 219,120 shares of the construction company’s stock valued at $16,601,000 after purchasing an additional 21,951 shares in the last quarter. 55.85% of the stock is owned by institutional investors.

About Limbach

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.