Limbach (NASDAQ:LMB) Trading 11.4% Higher After Analyst Upgrade

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) shares rose 11.4% on Thursday 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 $154.05 and last traded at $162.37. Approximately 151,710 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 182,654 shares. The stock had previously closed at $145.77.

LMB has been the topic of a number of other research reports. Lake Street Capital boosted 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. Roth Capital reaffirmed 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 assigned a buy rating to the stock. According to data from MarketBeat, Limbach has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the transaction, the insider owned 69,877 shares of the company's stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. bought a new stake in shares of Limbach in the 1st quarter worth approximately $11,705,000. Next Century Growth Investors LLC bought a new position in Limbach during the 4th quarter worth approximately $13,374,000. Lord Abbett & CO. LLC purchased a new position in Limbach in the 1st quarter worth approximately $9,693,000. First Trust Advisors LP lifted its position in Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock valued at $27,578,000 after purchasing an additional 129,869 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Limbach by 81.7% during the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company's stock valued at $12,415,000 after acquiring an additional 74,986 shares during the last quarter. 55.85% of the stock is owned by institutional investors.

Limbach Stock Performance

The business has a fifty day moving average of $126.39 and a 200 day moving average of $99.92. 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 company has a market cap of $1.89 billion, a P/E ratio of 58.20, a P/E/G ratio of 2.58 and a beta of 1.19.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.82. The company had revenue of $133.11 million for the quarter, compared to analysts' expectations of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts predict that Limbach Holdings, Inc. will post 2.54 EPS 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.

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