Limbach (NASDAQ:LMB) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Limbach (NASDAQ:LMB) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

A number of other research firms also recently weighed in on LMB. Roth Capital reaffirmed a “buy” rating on shares of Limbach in a research report on Wednesday, May 7th. Lake Street Capital lifted their price target on shares of Limbach from $125.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Limbach from $151.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Limbach currently has a consensus rating of “Buy” and an average price target of $133.00.

Limbach Stock Up 1.3%

Shares of NASDAQ:LMB opened at $135.64 on Friday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a 50 day moving average price of $136.90 and a 200-day moving average price of $106.27. Limbach has a 52-week low of $48.17 and a 52-week high of $154.05.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.82. The company had revenue of $133.11 million for the quarter, compared to analysts’ expectations of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts anticipate that Limbach will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jay Sharp sold 2,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $137.49, for a total value of $274,980.00. Following the sale, the insider directly owned 69,877 shares of the company’s stock, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Large investors have recently modified their holdings of the stock. Comerica Bank lifted its position in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Limbach by 5.2% during the fourth quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company’s stock valued at $295,000 after purchasing an additional 172 shares in the last quarter. Swiss National Bank boosted its position in shares of Limbach by 1.0% during the fourth quarter. Swiss National Bank now owns 19,900 shares of the construction company’s stock valued at $1,702,000 after buying an additional 200 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Limbach during the second quarter valued at $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Limbach by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company’s stock worth $498,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

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.