Stifel Nicolaus Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB - Free Report) had its price target hoisted by Stifel Nicolaus from $151.00 to $163.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

Several other research firms have also recently commented on LMB. Lake Street Capital boosted their price target on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Roth Capital restated a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.00.

Limbach Price Performance

Shares of NASDAQ LMB traded up $0.19 during trading on Friday, hitting $149.42. The company had a trading volume of 123,891 shares, compared to its average volume of 183,789. The business's 50-day moving average is $133.72 and its 200 day moving average is $102.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. Limbach has a 52 week low of $48.17 and a 52 week high of $154.05. The company has a market cap of $1.74 billion, a P/E ratio of 53.56, a PEG ratio of 2.84 and a beta of 1.19.

Limbach (NASDAQ:LMB - Get Free Report) last announced its earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $121.06 million. During the same period in the previous year, the business earned $0.69 EPS. The company's revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Limbach will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Limbach

In related 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 sale, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 9.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Limbach

A number of large investors have recently bought and sold shares of the business. Brendel Financial Advisors LLC boosted its holdings in Limbach by 19.8% in the second quarter. Brendel Financial Advisors LLC now owns 3,738 shares of the construction company's stock worth $524,000 after purchasing an additional 618 shares in the last quarter. Wedmont Private Capital bought a new stake in Limbach in the second quarter worth $219,000. Rhumbline Advisers boosted its holdings in Limbach by 3.1% in the first quarter. Rhumbline Advisers now owns 14,498 shares of the construction company's stock worth $1,080,000 after purchasing an additional 433 shares in the last quarter. Strs Ohio bought a new stake in Limbach in the first quarter worth $462,000. Finally, Caxton Associates LLP bought a new stake in Limbach during the first quarter valued at about $416,000. 55.85% of the stock is currently owned by 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.