Limbach Holdings, Inc. (NASDAQ:LMB) Receives $120.00 Average PT from Brokerages

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have received an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $120.00.

LMB has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. 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. JPMorgan Chase & Co. assumed coverage on Limbach in a report on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price objective for the company. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the transaction, the insider owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Limbach in the third quarter worth $54,000. Comerica Bank lifted its stake in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Limbach during the 2nd quarter valued at about $114,000. Harbour Investments Inc. purchased a new position in shares of Limbach during the second quarter valued at about $115,000. Finally, SG Americas Securities LLC increased its holdings in shares of Limbach by 85.0% in the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock worth $158,000 after purchasing an additional 749 shares during the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Price Performance

Shares of NASDAQ:LMB opened at $88.66 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.03 billion, a PE ratio of 29.16 and a beta of 1.29. The company’s fifty day moving average is $80.45 and its 200 day moving average is $92.84. Limbach has a 52 week low of $63.02 and a 52 week high of $154.05.

Limbach announced that its board has authorized a share repurchase plan on Monday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to purchase up to 5.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.