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

Limbach (NASDAQ:LMB) had its target price lifted by Roth Mkm from $67.00 to $80.00 in a research note published on Monday morning,Benzinga reports. Roth Mkm currently has a buy rating on the construction company’s stock.

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

Limbach Stock Performance

LMB stock opened at $93.75 on Monday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 42.81, a P/E/G ratio of 2.52 and a beta of 0.97. The firm has a 50 day moving average of $75.75 and a two-hundred day moving average of $62.88. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. Limbach has a 12 month low of $29.55 and a 12 month high of $95.26.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same period in the prior year, the company posted $0.61 earnings per share. Limbach’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Limbach will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the sale, the director now directly owns 190,000 shares in the company, valued at $12,163,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 40,072 shares of company stock worth $2,418,821 in the last 90 days. 10.20% of the stock is owned by company insiders.

Institutional Trading of Limbach

Several large investors have recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new position in shares of Limbach in the 3rd quarter worth approximately $25,000. nVerses Capital LLC bought a new position in Limbach in the 3rd quarter valued at $53,000. Quest Partners LLC acquired a new position in Limbach in the third quarter worth $207,000. Harbor Capital Advisors Inc. grew its holdings in shares of Limbach by 6.3% during the third 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. Finally, Mraz Amerine & Associates Inc. acquired a new stake in shares of Limbach in the third quarter valued at $265,000. 55.85% of the stock is 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.