Roth Mkm Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB) had its price target increased by analysts at Roth Mkm from $67.00 to $80.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Roth Mkm’s price objective indicates a potential upside of 6.98% from the stock’s current price.

Separately, StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

Limbach Stock Performance

Shares of LMB traded down $1.56 during mid-day trading on Monday, reaching $74.78. The company had a trading volume of 73,734 shares, compared to its average volume of 162,204. Limbach has a 52-week low of $29.50 and a 52-week high of $87.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $842.77 million, a P/E ratio of 34.00, a PEG ratio of 2.61 and a beta of 0.98. The stock has a 50 day moving average of $74.14 and a two-hundred day moving average of $61.94.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The firm had revenue of $122.24 million for the quarter, compared to the consensus estimate of $123.50 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, analysts expect that Limbach will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $520,432.00. Following the completion of the transaction, the director now owns 223,272 shares of the company’s stock, valued at $13,204,306.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 40,072 shares of company stock valued at $2,418,821 over the last quarter. 10.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Limbach by 6.0% in the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after purchasing an additional 32,030 shares during the last quarter. Renaissance Technologies LLC increased its stake in Limbach by 6.4% during the second quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock worth $22,480,000 after acquiring an additional 23,700 shares during the last quarter. American Century Companies Inc. increased its stake in Limbach by 6.0% during the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock worth $11,854,000 after acquiring an additional 11,782 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Limbach by 34.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock worth $6,317,000 after acquiring an additional 21,346 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Limbach by 368.5% during the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after acquiring an additional 56,535 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

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.