Roth Mkm Increases Limbach (NASDAQ:LMB) Price Target to $80.00

Limbach (NASDAQ:LMB - Get Free Report) had its target price upped by analysts at Roth Mkm from $67.00 to $80.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Roth Mkm's target price would indicate a potential upside of 8.73% from the stock's previous close.

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

Limbach Stock Down 3.6 %

NASDAQ LMB traded down $2.76 during midday trading on Monday, hitting $73.58. 168,728 shares of the company traded hands, compared to its average volume of 162,650. 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 company has a market cap of $829.25 million, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.61 and a beta of 0.98. The company's 50-day simple moving average is $74.14 and its 200-day simple moving average is $61.94. Limbach has a 52 week low of $29.50 and a 52 week high of $87.00.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.37 by $0.13. The firm had revenue of $122.24 million during the quarter, compared to analyst estimates of $123.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, equities research analysts forecast that Limbach will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $520,432.00. Following the sale, the director now directly owns 223,272 shares of the company's stock, valued at approximately $13,204,306.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 40,072 shares of company stock valued at $2,418,821. Company insiders own 10.20% of the company's stock.

Institutional Investors Weigh In On Limbach

A number of institutional investors have recently modified their holdings of LMB. Allspring Global Investments Holdings LLC acquired a new stake in Limbach in the 2nd quarter worth about $3,532,000. Russell Investments Group Ltd. lifted its stake in Limbach by 368.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company's stock worth $2,977,000 after purchasing an additional 56,535 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in Limbach in the 2nd quarter worth approximately $2,653,000. Vanguard Group Inc. lifted its stake in Limbach by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company's stock worth $23,464,000 after purchasing an additional 32,030 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Limbach by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company's stock valued at $22,480,000 after buying an additional 23,700 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.