Limbach (NASDAQ:LMB) Coverage Initiated by Analysts at Stifel Nicolaus

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Limbach (NASDAQ:LMB) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $108.00 price target on the construction company’s stock. Stifel Nicolaus’ price target points to a potential upside of 21.61% from the stock’s previous close.

LMB has been the topic of several other research reports. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday. Roth Mkm increased 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.

Limbach Price Performance

Shares of NASDAQ:LMB opened at $88.81 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. Limbach has a one year low of $35.24 and a one year high of $98.36. The company has a 50-day simple moving average of $78.20 and a 200-day simple moving average of $64.47. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 2.95 and a beta of 0.97.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (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 business had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Limbach will post 2.58 EPS for the current year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 7,272 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $59.85, for a total value of $435,229.20. Following the sale, the director now owns 210,000 shares of the company’s stock, valued at approximately $12,568,500. This represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 19,272 shares of company stock worth $1,188,349. 10.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Limbach

A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. purchased a new position in Limbach in the 3rd quarter valued at about $11,635,000. Royce & Associates LP grew its position in Limbach by 35.3% during the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock valued at $18,908,000 after acquiring an additional 65,082 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Limbach during the second quarter worth about $3,532,000. Russell Investments Group Ltd. raised its holdings in shares of Limbach by 368.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after purchasing an additional 56,535 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 54,599 shares during the period. 55.85% of the stock is owned by institutional investors and hedge funds.

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.