Roth Mkm Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB) had its target price increased by investment analysts at Roth Mkm from $67.00 to $80.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Roth Mkm’s target price would suggest a potential upside of 6.98% from the company’s current price.

Separately, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

Limbach Trading Down 2.0 %

Shares of LMB traded down $1.56 during midday trading on Monday, hitting $74.78. 73,734 shares of the stock were exchanged, compared to its average volume of 162,204. Limbach has a 52-week low of $29.50 and a 52-week high of $87.00. The stock has a fifty day simple moving average of $74.14 and a 200 day simple moving average of $61.94. The firm has a market cap of $842.77 million, a P/E ratio of 34.00, a P/E/G ratio of 2.61 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.37 by $0.13. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The business had revenue of $122.24 million during the quarter, compared to analyst estimates of $123.50 million. During the same period last year, the business posted $0.46 earnings per share. On average, research analysts anticipate that Limbach will post 2.43 EPS for the current fiscal year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the sale, the director now directly owns 190,000 shares in the company, valued at $12,163,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 40,072 shares of company stock worth $2,418,821. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

A number of hedge funds and other institutional investors have recently made changes to their positions in LMB. BNP Paribas Financial Markets increased its position in Limbach by 20.1% in the 1st quarter. BNP Paribas Financial Markets now owns 8,411 shares of the construction company’s stock valued at $348,000 after acquiring an additional 1,406 shares during the period. Janney Montgomery Scott LLC increased its position in Limbach by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,697 shares of the construction company’s stock valued at $816,000 after acquiring an additional 1,574 shares during the period. Empowered Funds LLC increased its position in Limbach by 7.3% in the 1st quarter. Empowered Funds LLC now owns 7,676 shares of the construction company’s stock valued at $318,000 after acquiring an additional 525 shares during the period. PFG Advisors acquired a new position in Limbach in the 1st quarter valued at about $253,000. Finally, Russell Investments Group Ltd. increased its position in Limbach by 368.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock valued at $2,977,000 after acquiring an additional 56,535 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Company Profile

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.