Limbach (NASDAQ:LMB) Price Target Cut to $104.00 by Analysts at Stifel Nicolaus

Limbach (NASDAQ:LMB) had its price objective decreased by stock analysts at Stifel Nicolaus from $111.00 to $104.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 27.75% from the stock’s current price.

Several other research firms have also commented on LMB. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Limbach Stock Performance

NASDAQ:LMB opened at $81.41 on Monday. 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 cap of $946.80 million, a PE ratio of 26.78 and a beta of 1.26. The firm has a 50 day simple moving average of $76.92 and a 200-day simple moving average of $96.91. Limbach has a 1-year low of $63.02 and a 1-year high of $154.05.

Limbach (NASDAQ:LMB) last issued its quarterly 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 return on equity of 30.80% and a net margin of 6.06%.The business had revenue of $184.58 million for the quarter, compared to analysts’ expectations of $184.48 million. During the same period in the prior year, the company earned $0.62 EPS. The company’s revenue for the quarter was up 37.8% compared to the same quarter last year. On average, equities analysts expect that Limbach will post 2.54 EPS for the current year.

Limbach announced that its Board of Directors has authorized a share buyback program on Monday, December 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other Limbach 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 value of $155,960.00. Following the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Limbach during the third quarter valued at approximately $54,000. Comerica Bank boosted its holdings in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares during the period. AdvisorShares Investments LLC acquired a new stake in shares of Limbach in the second quarter valued at about $114,000. Harbour Investments Inc. bought a new position in shares of Limbach in the second quarter worth about $115,000. Finally, SG Americas Securities LLC boosted its stake in Limbach by 85.0% during the 3rd quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after purchasing an additional 749 shares during the period. 55.85% of the stock is owned by institutional investors.

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.