Stifel Nicolaus Has Lowered Expectations for Limbach (NASDAQ:LMB) Stock Price

Limbach (NASDAQ:LMB) had its price target lowered by Stifel Nicolaus from $119.00 to $111.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 35.01% from the company’s previous close.

LMB has been the subject of a number of other reports. Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Wednesday, December 10th. Finally, Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $133.50.

Limbach Price Performance

Limbach stock traded up $3.12 during mid-day trading on Tuesday, hitting $82.21. 96,027 shares of the company were exchanged, compared to its average volume of 212,628. Limbach has a 12-month low of $63.02 and a 12-month high of $154.05. The company has a market capitalization of $956.15 million, a P/E ratio of 27.20 and a beta of 1.26. The business’s 50 day simple moving average is $82.11 and its two-hundred day simple moving average is $108.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43.

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

Limbach announced that its board has initiated a share 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 reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Limbach

Several large investors have recently made changes to their positions in LMB. Thrivent Financial for Lutherans raised its position in 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 period. Wasatch Advisors LP grew its stake in shares of Limbach by 13.3% in the third quarter. Wasatch Advisors LP now owns 723,576 shares of the construction company’s stock valued at $70,274,000 after buying an additional 84,697 shares in the last quarter. Capital International Investors raised its holdings in shares of 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 buying an additional 62,483 shares during the period. Vanguard Group Inc. lifted its position in Limbach by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company’s stock worth $47,220,000 after acquiring an additional 29,685 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Limbach by 1,192.1% in the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after acquiring an additional 379,357 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.