Royce & Associates LP recently announced the acquisition of new stake in Limbach Holdings Inc. (NASDAQ:LMB). The institutional investor has increased its shareholding in the Industrials company by 5.37% to 1.2 million shares with purchase of 61232.0 shares. This fresh investment now brings its stake to 11.47% valued currently at $12.5 million. In addition, Polar Asset Management Partners, raised its holdings by 17697.0 to 1.03 million shares. And Victory Capital Management, Inc. has lifted its position by 7.85% or 12032.0 shares – to 0.17 million shares.
With over 73069.0 Limbach Holdings Inc. (LMB) shares trading Tuesday and a closing price of $12.84 on the day, the dollar volume was approximately $0.94 million. The shares have shown a positive half year performance of 144.57% and its price on 01/24/23 gained nearly 1.90%. Currently, there are 10.45M common shares owned by the public and among those 9.12M shares have been available to trade.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for LMB have a consensus price objective of $16.50. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $12.50. The average price target is 25.57% above its recent price level and a downside to the estimated low will see the stock lose -2.72% over that period. But an upside of 41.64% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 163,885 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 17,269 shares.
The top 3 mutual fund holders in Limbach Holdings Inc. are Royce Small-Cap Opportunity Fund, Legg Mason Global Funds Plc – Roy, and Vanguard Total Stock Market Index. Royce Small-Cap Opportunity Fund owns 0.78 million shares of the company’s stock, all valued at over $8.16 million. The company bought an additional 52282.0 shares recently to bring their total holdings to about 7.49% of the shares outstanding. Legg Mason Global Funds Plc – Roy bought 3609.0 shares to see its total holdings expand to 0.38 million shares valued at over $3.94 million and representing 3.62% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.22% of the shares outstanding.
Shares of Limbach Holdings Inc. (NASDAQ: LMB) opened at $12.55, down -$0.05 from a prior closing price of $12.60. However, the script later moved the day high at 13.11, up 1.90%. The company’s stock has a 5-day price change of 2.23% and 61.51% over the past three months. LMB shares are trading 23.34% year to date (YTD), with the 12-month market performance up to 67.41% higher. It has a 12-month low price of $4.90 and touched a high of $12.63 over the same period. LMB has an average intraday trading volume of 58.90K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.76%, 16.97%, and 66.37% respectively.
Institutional ownership of Limbach Holdings Inc. (NASDAQ: LMB) shares accounts for 42.00% of the company’s 10.45M shares outstanding. Mutual fund holders own 20.38%, while other institutional holders and individual stakeholders account for 29.87% and 17.01% respectively.
It has a market capitalization of $133.28M and a beta (3y monthly) value of 1.08. The stock’s trailing 12-month PE ratio is 18.74, while the earnings-per-share (ttm) stands at $0.69. The company has a PEG of 1.56 and a Quick Ratio of 1.40 with the debt-to-equity ratio at 0.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.58% over the week and 6.97% over the month.
Analysts forecast that Limbach Holdings Inc. (LMB) will achieve an EPS of $0.19 for the current quarter, $0.4 for the next quarter and $1.14 for 2023. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.23. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.90%, and 84.58% over the next financial year. EPS should shrink at an annualized rate of 12.00% over the next five years, compared to 22.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Limbach Holdings Inc. (LMB) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LMB, a number of firms have released research notes about the stock. Lake Street stated their Buy rating for the stock in a research note on March 05, 2021, with the firm’s price target at $19. DA Davidson coverage for the Limbach Holdings Inc. (LMB) stock in a research note released on January 24, 2020 offered a Neutral rating with a price target of $5. ROTH Capital on their part issued Buy rating on March 06, 2017.
