Limbach (NASDAQ:LMB) Given New $156.00 Price Target at Lake Street Capital

Limbach (NASDAQ:LMB - Free Report) had its price objective lifted by Lake Street Capital from $125.00 to $156.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company's stock.

Several other research analysts have also recently issued reports on LMB. Stifel Nicolaus upped their price objective on Limbach from $130.00 to $141.00 and gave the stock a "buy" rating in a research report on Monday, June 2nd. Roth Capital restated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

Limbach Stock Up 2.2%

NASDAQ:LMB traded up $3.22 during mid-day trading on Wednesday, hitting $148.99. The stock had a trading volume of 151,710 shares, compared to its average volume of 182,654. Limbach has a twelve month low of $48.17 and a twelve month high of $154.15. The stock has a 50-day simple moving average of $126.39 and a two-hundred day simple moving average of $99.92. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.73 billion, a PE ratio of 53.40, a PEG ratio of 2.58 and a beta of 1.19.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.82. The company had revenue of $133.11 million for the quarter, compared to the consensus estimate of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that Limbach will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Limbach news, insider Jay Sharp sold 2,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the completion of the transaction, the insider owned 69,877 shares in the company, valued at $9,607,388.73. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.70% of the stock is currently owned by company insiders.

Institutional Trading of Limbach

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its position in Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock worth $28,000 after buying an additional 320 shares during the period. Legacy Advisors LLC acquired a new position in shares of Limbach in the 1st quarter valued at $30,000. IFP Advisors Inc acquired a new position in shares of Limbach in the 4th quarter valued at $37,000. AlphaQuest LLC purchased a new stake in Limbach in the 1st quarter valued at $53,000. Finally, Comerica Bank boosted its stake in Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after purchasing an additional 611 shares during the period. 55.85% of the stock is owned by hedge funds and other institutional investors.

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.