Limbach (NASDAQ:LMB) Price Target Raised to $117.00

Limbach (NASDAQ:LMB) had its price objective upped by Stifel Nicolaus from $110.00 to $117.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Several other research analysts have also recently issued reports on the company. StockNews.com cut Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Roth Mkm lifted their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Limbach Trading Down 2.7 %

NASDAQ LMB opened at $102.44 on Friday. The business has a 50 day simple moving average of $95.30 and a 200 day simple moving average of $79.59. Limbach has a one year low of $38.03 and a one year high of $107.00. The stock has a market capitalization of $1.15 billion, a P/E ratio of 46.56, a P/E/G ratio of 2.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter last year, the firm posted $0.61 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts expect that Limbach will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David Richard Gaboury bought 531 shares of the stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the purchase, the director now directly owns 2,071 shares in the company, valued at $195,730.21. This represents a 34.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Capital Advisory LLC purchased a new position in Limbach during the third quarter worth about $25,000. nVerses Capital LLC purchased a new position in Limbach during the third quarter worth about $53,000. Quest Partners LLC purchased a new position in Limbach during the third quarter worth about $207,000. Harbor Capital Advisors Inc. grew its position in Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after buying an additional 162 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Limbach during the third quarter worth about $262,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

About Limbach

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.