Limbach (NASDAQ:LMB) Hits New 52-Week High on Analyst Upgrade

Shares of Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) hit a new 52-week high during trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $130.00 to $141.00. Stifel Nicolaus currently has a buy rating on the stock. Limbach traded as high as $137.05 and last traded at $134.20, with a volume of 17754 shares trading hands. The stock had previously closed at $133.16.

LMB has been the topic of several other reports. Lake Street Capital increased their target price on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Roth Capital reiterated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Limbach presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.33.

Insider Buying and Selling at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of Limbach stock in a transaction on Friday, March 14th. The shares were sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now owns 164,600 shares in the company, valued at $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Limbach

A number of large investors have recently added to or reduced their stakes in LMB. Versant Capital Management Inc raised its position in Limbach by 592.6% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock worth $28,000 after purchasing an additional 320 shares during the period. Legacy Advisors LLC purchased a new position in Limbach in the 1st quarter worth $30,000. IFP Advisors Inc purchased a new position in Limbach in the 4th quarter worth $37,000. AlphaQuest LLC purchased a new position in Limbach in the 1st quarter worth $53,000. Finally, Comerica Bank grew its holdings in Limbach by 727.4% in the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after acquiring an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company's stock.

Limbach Stock Performance

The firm has a market cap of $1.54 billion, a P/E ratio of 60.19, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. 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 business's fifty day simple moving average is $102.38 and its 200-day simple moving average is $94.38.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. The business had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, sell-side analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

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.