JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $50.00 to $55.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.90% from the company’s previous close.

LMB has been the topic of several other research reports. Stifel Nicolaus lowered their price objective on shares of Limbach from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a research note on Tuesday. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen upgraded Limbach from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Royal Bank Of Canada set a $50.00 target price on Limbach in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Limbach has an average rating of “Hold” and a consensus price target of $68.75.

Limbach Price Performance

Shares of LMB traded down $1.05 during midday trading on Thursday, reaching $53.45. The stock had a trading volume of 181,869 shares, compared to its average volume of 175,731. Limbach has a 52 week low of $40.74 and a 52 week high of $114.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s 50 day moving average price is $49.66 and its 200-day moving average price is $70.73. The company has a market capitalization of $637.66 million, a P/E ratio of 20.88 and a beta of 1.37.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, November 3rd. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. The business had revenue of $230.46 million during the quarter, compared to analysts’ expectations of $218.59 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. On average, analysts forecast that Limbach will post 4.34 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In related news, Director Joshua Horowitz purchased 4,008 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the purchase, the director owned 171,208 shares in the company, valued at $8,681,957.68. The trade was a 2.40% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 7,820 shares of company stock valued at $391,002 in the last ninety days. 7.00% of the stock is owned by insiders.

Institutional Trading of Limbach

A number of institutional investors and hedge funds have recently modified their holdings of LMB. Parkside Financial Bank & Trust acquired a new position in Limbach in the 2nd quarter valued at $36,000. State of Alaska Department of Revenue acquired a new position in Limbach during the 3rd quarter worth $25,000. State of Wyoming acquired a new position in Limbach during the 2nd quarter worth $71,000. Fifth Third Bancorp bought a new stake in Limbach during the first quarter valued at about $85,000. Finally, Palouse Capital Management Inc. acquired a new stake in shares of Limbach in the second quarter valued at about $154,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ:LMB) provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.

Limbach’s services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.