Stifel Nicolaus Lowers Limbach (NASDAQ:LMB) Price Target to $104.00

Limbach (NASDAQ:LMB) had its target price lowered by equities researchers at Stifel Nicolaus from $111.00 to $104.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 23.79% from the company’s previous close.

LMB has been the topic of several other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Limbach has an average rating of “Moderate Buy” and an average target price of $130.00.

Limbach Trading Up 2.2%

NASDAQ:LMB opened at $84.01 on Monday. 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 company has a market cap of $977.04 million, a PE ratio of 27.63 and a beta of 1.26. The firm has a 50-day moving average of $77.48 and a 200-day moving average of $95.97.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The company had revenue of $184.58 million for the quarter, compared to the consensus estimate of $184.48 million. Limbach had a return on equity of 30.80% and a net margin of 6.06%.The business’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, equities research analysts expect that Limbach will post 2.54 EPS for the current fiscal year.

Limbach announced that its board has initiated a share buyback program on Monday, December 15th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the stock in a transaction 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 transaction, the insider owned 64,979 shares in the company, valued at approximately $5,067,062.42. This represents a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Institutional Trading of Limbach

Several hedge funds and other institutional investors have recently modified their holdings of LMB. Thrivent Financial for Lutherans boosted its holdings in Limbach by 353.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after buying an additional 573,136 shares during the period. Invesco Ltd. boosted its holdings in shares of Limbach by 2,041.6% in the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after acquiring an additional 381,897 shares during the period. First Trust Advisors LP grew its position in shares of Limbach by 1,192.1% in the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after purchasing an additional 379,357 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Limbach by 59.2% during the 2nd quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company’s stock valued at $89,507,000 after purchasing an additional 237,475 shares during the period. Finally, Capital International Investors lifted its holdings in Limbach by 10.7% during the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock worth $62,670,000 after purchasing an additional 62,483 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

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.