Lake Street Capital Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB) had its price target hoisted by investment analysts at Lake Street Capital from $100.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Lake Street Capital’s price objective would suggest a potential upside of 24.03% from the stock’s previous close.

LMB has been the subject of several other research reports. Stifel Nicolaus increased their price objective on Limbach from $110.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 24th. Roth Mkm raised their target price on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Limbach Stock Performance

Shares of LMB opened at $100.78 on Tuesday. Limbach has a 12 month low of $38.03 and a 12 month high of $107.00. The stock has a fifty day moving average price of $94.54 and a 200-day moving average price of $81.31. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.14 billion, a PE ratio of 45.81, a P/E/G ratio of 2.46 and a beta of 1.11.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $129.50 million. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Limbach will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Richard Gaboury acquired 531 shares of Limbach stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the purchase, the director now owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This represents a 34.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Limbach

A number of institutional investors have recently modified their holdings of LMB. Rockefeller Capital Management L.P. acquired a new stake in shares of Limbach during the 3rd quarter valued at about $11,635,000. Royce & Associates LP boosted its holdings in Limbach by 35.3% in the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after buying an additional 65,082 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Limbach by 186.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company’s stock worth $6,360,000 after buying an additional 54,599 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in Limbach in the 4th quarter worth about $4,430,000. Finally, Portolan Capital Management LLC boosted its holdings in Limbach by 70.5% in the 3rd quarter. Portolan Capital Management LLC now owns 123,354 shares of the construction company’s stock worth $9,345,000 after buying an additional 51,002 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

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.