Brokerages Set Limbach Holdings, Inc. (NASDAQ:LMB) Price Target at $116.67

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have received an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $116.6667.

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings downgraded Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Stifel Nicolaus dropped their price target on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, January 26th.

Limbach Stock Performance

Shares of Limbach stock opened at $71.36 on Friday. The stock’s fifty day moving average is $82.43 and its two-hundred day moving average is $81.67. The company has a market capitalization of $850.61 million, a PE ratio of 25.95 and a beta of 1.54. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. Limbach has a 52 week low of $65.08 and a 52 week high of $154.05.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.21 by $0.43. The company had revenue of $138.86 million for the quarter, compared to the consensus estimate of $134.23 million. Limbach had a return on equity of 26.17% and a net margin of 5.09%.Limbach’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. As a group, analysts expect that Limbach will post 4.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jay Sharp sold 2,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the transaction, the executive vice president owned 79,027 shares of the company’s stock, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jayme L. Brooks sold 9,910 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 140,750 shares in the company, valued at $11,057,320. The trade was a 6.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,433 shares of company stock worth $2,345,453 in the last three months. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Limbach

A number of hedge funds and other institutional investors have recently made changes to their positions in LMB. Caitong International Asset Management Co. Ltd grew its position in shares of Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after buying an additional 130 shares in the last quarter. Comerica Bank lifted its stake in shares of Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Limbach during the 1st quarter worth $85,000. State of Wyoming lifted its stake in shares of Limbach by 131.4% during the 1st quarter. State of Wyoming now owns 1,444 shares of the construction company’s stock worth $113,000 after purchasing an additional 820 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Limbach by 34.5% during the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after purchasing an additional 371 shares during 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.