Limbach (NASDAQ:LMB) Hits New 12-Month High – What’s Next?

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $103.91 and last traded at $103.91, with a volume of 789 shares trading hands. The stock had previously closed at $102.64.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Mkm lifted their price objective on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus began coverage on shares of Limbach in a research note on Friday, November 15th. They set a “buy” rating and a $108.00 price objective on the stock.

Limbach Price Performance

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 46.65, a P/E/G ratio of 3.37 and a beta of 0.97. The company has a 50 day moving average price of $82.35 and a 200-day moving average price of $67.06.

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 analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, equities research analysts predict that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joshua Horowitz sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $64.02, for a total transaction of $320,100.00. Following the completion of the sale, the director now owns 190,000 shares in the company, valued at $12,163,800. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Limbach by 6.0% during the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock worth $23,464,000 after buying an additional 32,030 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Limbach by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock worth $11,854,000 after acquiring an additional 11,782 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Limbach in the third quarter valued at about $568,000. Allspring Global Investments Holdings LLC lifted its position in shares of Limbach by 34.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock valued at $6,317,000 after purchasing an additional 21,346 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in Limbach during the second quarter worth about $2,653,000. 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.