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

Limbach (NASDAQ:LMB) had its price objective dropped by stock analysts at Stifel Nicolaus from $107.00 to $86.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 76.59% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.00.

Limbach Price Performance

Shares of NASDAQ:LMB opened at $48.70 on Monday. The business has a 50-day moving average of $75.73 and a two-hundred day moving average of $81.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. Limbach has a fifty-two week low of $47.15 and a fifty-two week high of $128.57. The stock has a market capitalization of $580.99 million, a P/E ratio of 19.48 and a beta of 1.45.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). The firm had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. On average, equities research analysts predict that Limbach will post 4.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jay Sharp sold 4,871 shares of the firm’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 transaction of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Limbach

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Limbach by 23.3% in the 4th 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 during the period. Comerica Bank lifted its stake in Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the period. Caxton Associates LLP boosted its holdings in Limbach by 4.9% during the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock worth $352,000 after buying an additional 168 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Limbach by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock worth $537,000 after buying an additional 204 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Limbach by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock worth $451,000 after buying an additional 241 shares during the period. 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.