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

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $141.00 to $151.00. Stifel Nicolaus currently has a buy rating on the stock. Limbach traded as high as $145.78 and last traded at $142.26, with a volume of 68036 shares. The stock had previously closed at $136.00.

A number of other equities research analysts also recently issued reports on the stock. Roth Capital reissued a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Lake Street Capital increased their target price on shares of Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $129.00.

Insider Activity at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 69,877 shares of the company's stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Limbach

A number of institutional investors have recently made changes to their positions in LMB. Bessemer Group Inc. purchased a new position in Limbach in the first quarter worth $11,705,000. Next Century Growth Investors LLC purchased a new position in shares of Limbach in the 4th quarter worth about $13,374,000. Lord Abbett & CO. LLC purchased a new position in shares of Limbach during the 1st quarter valued at about $9,693,000. First Trust Advisors LP lifted its position in Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after buying an additional 129,869 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Limbach by 81.7% in the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company's stock worth $12,415,000 after buying an additional 74,986 shares in the last quarter. Institutional investors own 55.85% of the company's stock.

Limbach Price Performance

The firm has a market capitalization of $1.69 billion, a P/E ratio of 52.25, a PEG ratio of 2.58 and a beta of 1.19. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The business's 50-day simple moving average is $126.39 and its 200 day simple moving average is $99.92.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The company had revenue of $133.11 million for the quarter, compared to analysts' expectations of $121.06 million. During the same quarter last year, the company earned $0.69 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. Sell-side analysts forecast 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.