Analysts Set Limbach Holdings, Inc. (NASDAQ:LMB) PT at $133.50

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $133.50.

LMB has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on shares of Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Tuesday, December 16th.

Insider Buying and Selling at Limbach

In other news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at $5,067,062.42. The trade was a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Limbach

Several large investors have recently added to or reduced their stakes in LMB. Opal Wealth Advisors LLC purchased a new position in shares of Limbach during the second quarter valued at $32,000. AlphaQuest LLC bought a new position in Limbach during the 1st quarter worth about $53,000. Caitong International Asset Management Co. Ltd purchased a new position in Limbach during the 3rd quarter valued at about $54,000. Comerica Bank raised its holdings in shares of Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new stake in shares of Limbach in the 2nd quarter valued at about $114,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

Shares of LMB opened at $78.40 on Wednesday. The firm has a market capitalization of $911.79 million, a P/E ratio of 25.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. Limbach has a one year low of $63.02 and a one year high of $154.05. The business has a fifty day moving average of $81.02 and a 200 day moving average of $107.36.

Limbach (NASDAQ:LMB) last posted its 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). The firm had revenue of $184.58 million during the quarter, compared to the consensus estimate of $184.48 million. Limbach had a net margin of 6.06% and a return on equity of 30.80%. The firm’s revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. As a group, sell-side analysts anticipate that Limbach will post 2.54 EPS for the current year.

Limbach announced that its Board of Directors has approved a share repurchase program on Monday, December 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 5.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.