Stifel Nicolaus Lowers Limbach (NASDAQ:LMB) Price Target to $111.00

Limbach (NASDAQ:LMB) had its target price cut by stock analysts at Stifel Nicolaus from $119.00 to $111.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 40.45% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $133.50.

Limbach Stock Down 2.8%

LMB stock opened at $79.03 on Tuesday. Limbach has a one year low of $63.02 and a one year high of $154.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s fifty day moving average is $81.63 and its 200 day moving average is $108.31. The firm has a market cap of $919.12 million, a PE ratio of 26.00 and a beta of 1.26.

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). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The firm had revenue of $184.58 million during the quarter, compared to analyst estimates of $184.48 million. During the same quarter last year, the company posted $0.62 EPS. The company’s revenue was up 37.8% on a year-over-year basis. On average, research analysts forecast that Limbach will post 2.54 EPS for the current year.

Limbach declared that its Board of Directors has authorized a share repurchase plan on Monday, December 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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 on Monday, December 15th. The shares were 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 of the company’s stock, valued at $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 available through this hyperlink. 9.70% of the stock is owned by insiders.

Institutional Trading of Limbach

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Limbach by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company’s stock worth $47,220,000 after purchasing an additional 29,685 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Limbach in the first quarter valued at approximately $2,733,000. Russell Investments Group Ltd. lifted its position in Limbach by 46.3% during the first quarter. Russell Investments Group Ltd. now owns 108,684 shares of the construction company’s stock worth $8,094,000 after buying an additional 34,395 shares in the last quarter. Algert Global LLC boosted its stake in Limbach by 34.2% during the first quarter. Algert Global LLC now owns 3,975 shares of the construction company’s stock worth $296,000 after buying an additional 1,014 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Limbach by 81.7% during the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after buying an additional 74,986 shares during 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.