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 Tuesday . The stock traded as high as $98.70 and last traded at $98.49, with a volume of 85595 shares trading hands. The stock had previously closed at $93.90.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LMB. Stifel Nicolaus assumed coverage on Limbach in a research note on Friday. They issued a “buy” rating and a $108.00 price target on the stock. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Roth Mkm raised their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Limbach Stock Up 5.9 %

The company’s fifty day moving average price is $79.36 and its 200-day moving average price is $65.23. The stock has a market cap of $1.12 billion, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. Equities analysts forecast that Limbach Holdings, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $61.86, for a total value of $433,020.00. Following the completion of the sale, the director now owns 203,000 shares of the company’s stock, valued at approximately $12,557,580. This represents a 3.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Limbach

A number of large investors have recently bought and sold shares of LMB. American Capital Advisory LLC purchased a new position in shares of Limbach in the 3rd quarter valued at $25,000. nVerses Capital LLC purchased a new position in Limbach in the third quarter valued at about $53,000. Harbor Capital Advisors Inc. raised its holdings in Limbach by 6.3% in 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 in the last quarter. Quest Partners LLC purchased a new stake in shares of Limbach during the third quarter valued at about $207,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Limbach during the second quarter valued at about $223,000. Institutional investors own 55.85% of the company’s stock.

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.