Limbach (NASDAQ:LMB) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Limbach (NASDAQ:LMB) had its price objective lifted by equities researchers at Lake Street Capital from $100.00 to $125.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Lake Street Capital’s price objective would indicate a potential upside of 33.41% from the stock’s previous close.

Several other research analysts have also recently issued reports on LMB. Stifel Nicolaus increased their price target on shares of Limbach from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, January 24th. StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Roth Mkm lifted their price target on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

Limbach Stock Performance

LMB traded up $3.82 on Tuesday, reaching $93.69. 30,754 shares of the stock were exchanged, compared to its average volume of 201,897. The company’s 50-day moving average price is $94.61 and its 200 day moving average price is $80.91. The firm has a market capitalization of $1.06 billion, a PE ratio of 42.66, a PEG ratio of 2.46 and a beta of 1.11. Limbach has a fifty-two week low of $38.03 and a fifty-two week high of $107.00. 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 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 company 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 earned $0.61 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Limbach will post 2.54 EPS for the current fiscal year.

Insider Activity at Limbach

In related news, Director David Richard Gaboury acquired 531 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the transaction, the director now directly owns 2,071 shares of the company’s stock, valued at $195,730.21. This trade represents a 34.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. bought a new stake in shares of Limbach during the 3rd quarter worth $11,635,000. Royce & Associates LP raised its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Limbach by 186.1% in the third 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 in the last quarter. Moody Aldrich Partners LLC purchased a new stake in shares of Limbach during the fourth quarter valued at $4,430,000. Finally, Portolan Capital Management LLC lifted its stake in Limbach by 70.5% during the 3rd quarter. Portolan Capital Management LLC now owns 123,354 shares of the construction company’s stock valued at $9,345,000 after acquiring an additional 51,002 shares during the period. Institutional investors own 55.85% of the company’s stock.

Limbach Company Profile

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.