Analysts Set Limbach Holdings, Inc. (NASDAQ:LMB) Target Price at $133.50

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been given an average recommendation of “Hold” by the five ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $133.50.

Several analysts recently issued reports on the company. Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Wall Street Zen lowered Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus reduced their price target on Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research note on Tuesday.

Insider Buying and Selling

In other Limbach news, insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $5,067,062.42. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMB. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Limbach during the 2nd quarter worth about $868,000. Castleark Management LLC acquired a new stake in shares of Limbach in the second quarter worth $2,962,000. Northern Trust Corp increased its position in Limbach by 81.7% during the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after acquiring an additional 74,986 shares during the period. Caxton Associates LLP acquired a new position in Limbach during the 1st quarter valued at $416,000. Finally, Nadler Financial Group Inc. bought a new stake in Limbach in the 2nd quarter valued at $240,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Price Performance

NASDAQ LMB opened at $78.40 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $911.79 million, a price-to-earnings ratio of 25.79 and a beta of 1.26. The company has a 50 day simple moving average of $81.02 and a 200-day simple moving average of $107.72. Limbach has a 52-week low of $63.02 and a 52-week high of $154.05.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a net margin of 6.06% and a return on equity of 30.80%. The company had revenue of $184.58 million during the quarter, compared to analyst estimates of $184.48 million. During the same quarter in the prior year, the company posted $0.62 EPS. The firm’s quarterly revenue was up 37.8% compared to the same quarter last year. Equities research analysts predict that Limbach will post 2.54 earnings per share for the current fiscal year.

Limbach announced that its board has initiated a stock repurchase plan on Monday, December 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.