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

Limbach (NASDAQ:LMB) had its price target raised by Roth Mkm from $67.00 to $80.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

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

Limbach Price Performance

Shares of NASDAQ LMB opened at $73.58 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $829.25 million, a price-to-earnings ratio of 33.60, a PEG ratio of 2.62 and a beta of 0.97. The firm’s 50 day simple moving average is $74.32 and its 200-day simple moving average is $62.18. Limbach has a 12 month low of $29.50 and a 12 month high of $87.00.

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

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $520,432.00. Following the transaction, the director now directly owns 223,272 shares of the company’s stock, valued at $13,204,306.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 40,072 shares of company stock valued at $2,418,821. 10.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

Hedge funds have recently made changes to their positions in the company. American Capital Advisory LLC purchased a new stake in shares of Limbach during the third quarter worth approximately $25,000. nVerses Capital LLC acquired a new stake in Limbach during the 3rd quarter worth $53,000. Harbor Capital Advisors Inc. boosted its stake in Limbach by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after purchasing an additional 162 shares during the last quarter. Mraz Amerine & Associates Inc. purchased a new stake in shares of Limbach during the third quarter worth $265,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Limbach in the second quarter valued at about $223,000. 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.