Limbach Holdings, Inc. (NASDAQ:LMB) Stock Has Average Target Price of $70.25

Limbach Holdings, Inc. (NASDAQ:LMB) has been given an average recommendation of “Hold” by the five research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $70.25.

Several analysts have issued reports on the company. Zacks Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut shares of Limbach from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $60.00 to $50.00 in a research report on Friday, August 21st. Stifel Nicolaus decreased their price target on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Limbach from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th.

Insider Activity at Limbach

In other news, Director Joshua Horowitz purchased 4,008 shares of Limbach stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the acquisition, the director owned 171,208 shares in the company, valued at approximately $8,681,957.68. This trade represents a 2.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 7,820 shares of company stock worth $391,002 over the last quarter. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Limbach

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust acquired a new position in shares of Limbach in the 2nd quarter valued at about $36,000. VELA Investment Management LLC raised its stake in shares of Limbach by 8.6% in the second quarter. VELA Investment Management LLC now owns 45,166 shares of the construction company’s stock worth $3,478,000 after purchasing an additional 3,566 shares during the last quarter. Corient Private Wealth LP lifted its stake in Limbach by 34.5% during the 2nd quarter. Corient Private Wealth LP now owns 23,135 shares of the construction company’s stock valued at $1,781,000 after acquiring an additional 5,938 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new position in shares of Limbach during the second quarter valued at about $3,620,000. Finally, Kerrisdale Advisers LLC purchased a new position in shares of Limbach in the 2nd quarter worth approximately $1,579,000. 55.85% of the stock is owned by institutional investors and hedge funds.

Limbach Price Performance

Shares of LMB stock opened at $49.10 on Friday. Limbach has a 12-month low of $40.74 and a 12-month high of $114.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $585.76 million, a price-to-earnings ratio of 19.64 and a beta of 1.33. The firm has a fifty day moving average of $50.93 and a 200-day moving average of $70.11.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The business had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. On average, equities research analysts forecast that Limbach will post 4.29 earnings per share for the current year.

About Limbach

Limbach Holdings, Inc is a building systems solutions provider that designs, installs, services and maintains critical mechanical, electrical, plumbing and building automation systems. Its capabilities include heating, ventilation and air conditioning (HVAC), energy management, plumbing, electrical infrastructure, controls and other building systems that support the operation and efficiency of complex facilities.

The company serves institutional and commercial customers, including healthcare providers, universities and other educational institutions, life sciences organizations, government and public-sector entities, and industrial and commercial property owners.