Stifel Nicolaus Cuts Limbach (NASDAQ:LMB) Price Target to $111.00

Limbach (NASDAQ:LMB) had its target price reduced by Stifel Nicolaus from $119.00 to $111.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

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

Limbach Stock Down 0.9%

Shares of NASDAQ:LMB opened at $78.33 on Tuesday. The business’s 50 day moving average is $81.27 and its 200 day moving average is $108.10. The stock has a market cap of $910.98 million, a P/E ratio of 25.77 and a beta of 1.26. Limbach has a 52-week low of $63.02 and a 52-week high of $154.05. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

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

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

Insider Transactions at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Limbach by 4.9% during the first quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company’s stock valued at $47,220,000 after buying an additional 29,685 shares during the last quarter. Nuveen LLC acquired a new stake in Limbach during the 1st quarter worth about $2,733,000. Russell Investments Group Ltd. grew its stake in Limbach by 46.3% during the 1st quarter. Russell Investments Group Ltd. now owns 108,684 shares of the construction company’s stock valued at $8,094,000 after purchasing an additional 34,395 shares during the last quarter. Algert Global LLC increased its holdings in shares of Limbach by 34.2% in the first quarter. Algert Global LLC now owns 3,975 shares of the construction company’s stock valued at $296,000 after purchasing an additional 1,014 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Limbach by 81.7% in the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after purchasing an additional 74,986 shares during the last quarter. Hedge funds and other institutional investors 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.