Limbach Holdings, Inc. (NASDAQ:LMB) Receives $120.00 Consensus Target Price from Analysts

Limbach Holdings, Inc. (NASDAQ:LMB) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $120.00.

A number of research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. JPMorgan Chase & Co. assumed coverage on shares of Limbach in a research note on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Finally, Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th.

Limbach Price Performance

LMB stock opened at $82.10 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $958.93 million, a P/E ratio of 25.34 and a beta of 1.31. The business has a 50 day simple moving average of $85.70 and a 200-day simple moving average of $88.57. Limbach has a twelve month low of $63.02 and a twelve month high of $154.05.

Limbach (NASDAQ:LMB) last announced its earnings results on Monday, March 2nd. The construction company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $186.87 million for the quarter, compared to analysts’ expectations of $197.56 million. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. As a group, equities analysts anticipate that Limbach will post 2.54 EPS for the current year.

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

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the sale, the insider owned 64,979 shares in the company, valued at $5,067,062.42. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in Limbach by 51.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company’s stock valued at $66,000 after buying an additional 286 shares during the period. XTX Topco Ltd lifted its stake in shares of Limbach by 109.7% in the 4th quarter. XTX Topco Ltd now owns 8,004 shares of the construction company’s stock worth $623,000 after acquiring an additional 4,187 shares during the period. Stokes Family Office LLC purchased a new stake in shares of Limbach in the fourth quarter valued at about $229,000. Voloridge Investment Management LLC purchased a new stake in shares of Limbach in the fourth quarter valued at about $1,158,000. Finally, Millennium Management LLC increased its stake in shares of Limbach by 9.8% during the fourth quarter. Millennium Management LLC now owns 49,758 shares of the construction company’s stock worth $3,874,000 after acquiring an additional 4,455 shares during the period. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

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.