Limbach (NASDAQ:LMB) Price Target Lowered to $132.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus lowered its price target for Limbach from $146.00 to $132.00, indicating a potential upside of 41.15% from the current stock price despite maintaining a "buy" rating.
• Limbach reported earnings of $0.93 per share, surpassing analysts' expectations, alongside a 16.4% revenue increase year-over-year, amounting to $142.24 million.
• Institutional investors have significantly increased their holdings in Limbach, with Invesco Ltd. boosting its stake by over 2000% during the second quarter of this year.

Limbach (NASDAQ:LMB - Get Free Report) had its price target dropped by research analysts at Stifel Nicolaus from $146.00 to $132.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Stifel Nicolaus' target price would indicate a potential upside of 41.15% from the stock's current price.

Several other research analysts also recently weighed in on the company. Lake Street Capital upped their target price on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Limbach in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Limbach from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Limbach has an average rating of "Buy" and an average price target of $122.67.

Limbach Stock Performance

NASDAQ:LMB traded up $2.66 during trading hours on Monday, reaching $93.52. The company had a trading volume of 38,477 shares, compared to its average volume of 223,554. Limbach has a 1-year low of $63.02 and a 1-year high of $154.05. The firm has a market cap of $1.09 billion, a PE ratio of 31.91 and a beta of 1.42. The business's 50 day moving average price is $107.14 and its 200-day moving average price is $114.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.69 and a quick ratio of 1.69.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The company had revenue of $142.24 million during the quarter, compared to the consensus estimate of $144.21 million. During the same period in the previous year, the company posted $0.73 earnings per share. Limbach's revenue for the quarter was up 16.4% on a year-over-year basis. Limbach has set its FY 2025 guidance at EPS. Research analysts forecast that Limbach will post 2.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock valued at $56,124,000 after buying an additional 381,897 shares in the last quarter. First Trust Advisors LP grew its holdings in Limbach by 1,192.1% in the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company's stock valued at $57,606,000 after buying an additional 379,357 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Limbach by 59.2% during the 2nd quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company's stock worth $89,507,000 after purchasing an additional 237,475 shares during the period. Bessemer Group Inc. purchased a new position in shares of Limbach during the 1st quarter worth $11,705,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Limbach during the 1st quarter worth $9,693,000. 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.

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