JPMorgan Chase & Co. Issues Pessimistic Forecast for Limbach (NASDAQ:LMB) Stock Price

Limbach (NASDAQ:LMB) had its price objective reduced by analysts at JPMorgan Chase & Co. from $100.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 11.39% from the company’s current price.

A number of other equities research analysts have also recently issued reports on LMB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Stifel Nicolaus cut their price target on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.67.

Limbach Price Performance

NASDAQ LMB opened at $80.80 on Thursday. The company has a market capitalization of $943.74 million, a PE ratio of 24.94 and a beta of 1.32. Limbach has a 12-month low of $63.02 and a 12-month high of $154.05. The firm’s 50 day moving average is $85.12 and its 200-day moving average is $85.09. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.16.

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

Limbach announced that its board has authorized a share repurchase plan on Monday, December 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Jay Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the transaction, the executive vice president directly owned 79,027 shares in the company, valued at approximately $6,321,369.73. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jayme L. Brooks sold 9,910 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total value of $778,529.60. Following the sale, the chief financial officer owned 140,750 shares of the company’s stock, valued at $11,057,320. The trade was a 6.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors lifted its stake in shares of Limbach by 10.7% in the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock valued at $62,670,000 after acquiring an additional 62,483 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Limbach in the 2nd quarter valued at $2,962,000. Thrivent Financial for Lutherans raised its stake in Limbach by 353.8% during 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. First Trust Advisors LP raised its holdings in Limbach by 1,192.1% during the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after buying an additional 379,357 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Limbach by 6.6% in the second quarter. Geode Capital Management LLC now owns 269,271 shares of the construction company’s stock worth $37,730,000 after purchasing an additional 16,579 shares during 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.