Limbach (NASDAQ:LMB) Reaches New 52-Week High – What’s Next?

Limbach Holdings, Inc. (NASDAQ:LMB) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $138.03 and last traded at $137.46, with a volume of 234633 shares traded. The stock had previously closed at $135.23.

Analyst Ratings Changes

LMB has been the subject of several analyst reports. Roth Capital reissued a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. Stifel Nicolaus raised their price objective on shares of Limbach from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Limbach has a consensus rating of “Moderate Buy” and a consensus target price of $115.33.

Limbach Trading Up 1.6%

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.60 billion, a P/E ratio of 62.48, a P/E/G ratio of 2.22 and a beta of 1.21. The company’s 50 day simple moving average is $106.00 and its 200-day simple moving average is $95.11.

Limbach (NASDAQ:LMB) last issued its earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The business had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. As a group, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the transaction, the director now directly owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several institutional investors have recently bought and sold shares of LMB. Versant Capital Management Inc increased its holdings in Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock valued at $28,000 after buying an additional 320 shares during the period. Legacy Advisors LLC purchased a new position in Limbach during the first quarter valued at approximately $30,000. IFP Advisors Inc purchased a new position in Limbach during the fourth quarter valued at approximately $37,000. AlphaQuest LLC purchased a new position in Limbach during the first quarter valued at approximately $53,000. Finally, Comerica Bank increased its holdings in Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company’s stock valued at $59,000 after buying an additional 611 shares during the period. 55.85% of the stock is owned by hedge funds and other institutional investors.

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.