Stifel Nicolaus Issues Pessimistic Forecast for Limbach (NASDAQ:LMB) Stock Price

Limbach (NASDAQ:LMB) had its target price decreased by analysts at Stifel Nicolaus from $117.00 to $102.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 46.19% from the stock’s previous close.

LMB has been the subject of several other research reports. Lake Street Capital increased their target price on Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Limbach Price Performance

LMB traded down $3.27 during midday trading on Friday, hitting $69.77. The stock had a trading volume of 76,581 shares, compared to its average volume of 184,853. The business has a fifty day moving average of $90.98 and a 200 day moving average of $84.96. 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 has a 1 year low of $38.03 and a 1 year high of $107.00. The company has a market cap of $786.52 million, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11.

Insiders Place Their Bets

In other news, Director David Richard Gaboury acquired 531 shares of Limbach stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of $94.51 per share, with a total value of $50,184.81. Following the purchase, the director now owns 2,071 shares in the company, valued at $195,730.21. This trade represents a 34.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Limbach

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Limbach by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company’s stock valued at $51,700,000 after buying an additional 3,001 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Limbach by 0.4% in the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock valued at $32,025,000 after buying an additional 1,546 shares during the period. First Trust Advisors LP boosted its holdings in Limbach by 67.5% during the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock worth $27,578,000 after buying an additional 129,869 shares in the last quarter. Corsair Capital Management L.P. boosted its position in shares of Limbach by 1.3% in the 3rd quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock worth $23,740,000 after buying an additional 3,988 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Limbach by 35.3% in the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock valued at $18,908,000 after purchasing an additional 65,082 shares in the last quarter. Hedge funds and other 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.