Limbach (NASDAQ:LMB) Given New $111.00 Price Target at Stifel Nicolaus

Limbach (NASDAQ:LMB) had its price target dropped by equities researchers at Stifel Nicolaus from $119.00 to $111.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 35.01% from the stock’s previous close.

Several other research analysts also recently issued reports on LMB. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research report on Wednesday, December 10th. Zacks Research downgraded 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 research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $133.50.

Limbach Stock Performance

Shares of NASDAQ LMB traded up $3.12 during trading hours on Tuesday, reaching $82.21. The stock had a trading volume of 96,027 shares, compared to its average volume of 212,628. The firm has a 50-day moving average of $82.11 and a 200-day moving average of $108.84. The firm has a market cap of $956.15 million, a price-to-earnings ratio of 27.20 and a beta of 1.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. Limbach has a fifty-two week low of $63.02 and a fifty-two week high of $154.05.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data 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). The firm had revenue of $184.58 million during the quarter, compared to analysts’ expectations of $184.48 million. Limbach had a net margin of 6.06% and a return on equity of 30.80%. Limbach’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. Equities research analysts predict that Limbach will post 2.54 earnings per share for the current year.

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

Institutional Investors Weigh In On Limbach

Several institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Limbach in the 3rd quarter valued at approximately $54,000. Kestra Private Wealth Services LLC grew its holdings in Limbach by 18.1% in the third quarter. Kestra Private Wealth Services LLC now owns 5,003 shares of the construction company’s stock valued at $486,000 after purchasing an additional 768 shares during the last quarter. Caxton Associates LLP increased its position in shares of Limbach by 4.9% in the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after buying an additional 168 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Limbach by 13.3% during the 3rd quarter. Wasatch Advisors LP now owns 723,576 shares of the construction company’s stock worth $70,274,000 after buying an additional 84,697 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Limbach by 1,909.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 29,680 shares of the construction company’s stock worth $2,883,000 after buying an additional 28,203 shares in 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.