Lake Street Capital Forecasts Strong Price Appreciation for Limbach (NASDAQ:LMB) Stock

Limbach (NASDAQ:LMB - Get Free Report) had its target price raised by stock analysts at Lake Street Capital from $100.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Lake Street Capital's price objective would indicate a potential upside of 29.56% from the stock's previous close.

A number of other brokerages have also issued reports on LMB. StockNews.com lowered Limbach from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Roth Mkm lifted their price objective on Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Stifel Nicolaus increased their target price on Limbach from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, January 24th.

Limbach Stock Up 7.4 %

NASDAQ:LMB traded up $6.61 during trading hours on Tuesday, hitting $96.48. The stock had a trading volume of 138,427 shares, compared to its average volume of 206,992. The company has a market cap of $1.09 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 2.46 and a beta of 1.11. The business has a 50 day simple moving average of $94.50 and a two-hundred day simple moving average of $81.17. Limbach has a 1-year low of $38.03 and a 1-year high of $107.00. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. During the same period last year, the business earned $0.61 EPS. The business's revenue was up 4.9% on a year-over-year basis. Analysts predict that Limbach will post 2.54 EPS for the current year.

Insider Activity at Limbach

In other Limbach news, Director David Richard Gaboury acquired 531 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was purchased at an average price of $94.51 per share, with a total value of $50,184.81. Following the completion of the acquisition, the director now directly owns 2,071 shares in the company, valued at $195,730.21. This trade represents a 34.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in shares of Limbach in the 2nd quarter worth approximately $223,000. Truist Financial Corp increased its position in Limbach by 21.0% in the second quarter. Truist Financial Corp now owns 9,049 shares of the construction company's stock worth $515,000 after buying an additional 1,569 shares during the period. SG Americas Securities LLC bought a new stake in Limbach in the third quarter valued at $794,000. nVerses Capital LLC acquired a new position in shares of Limbach during the third quarter valued at $53,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of 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. 55.85% of the stock is currently owned by institutional investors.

About Limbach

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.