Limbach (NASDAQ:LMB) Stock Rating Upgraded by Zacks Research

Limbach (NASDAQ:LMB) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently commented on LMB. Wall Street Zen downgraded Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus decreased their price target on Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.50.

Limbach Stock Down 5.1%

LMB stock opened at $79.78 on Monday. The company has a market cap of $927.84 million, a price-to-earnings ratio of 26.57 and a beta of 1.26. The company has a fifty day moving average price of $77.38 and a 200 day moving average price of $102.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. Limbach has a 12 month low of $63.02 and a 12 month high of $154.05.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The business had revenue of $184.58 million for the quarter, compared to analysts’ expectations of $184.48 million. During the same period in the previous year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 37.8% on a year-over-year basis. Sell-side analysts expect that Limbach will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has authorized a share buyback plan on Monday, December 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the sale, the insider owned 64,979 shares in the company, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

Large investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Limbach during the second quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new position in Limbach in the third quarter valued at approximately $54,000. Comerica Bank increased its position in Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares during the period. AdvisorShares Investments LLC acquired a new stake in shares of Limbach in the 2nd quarter worth about $114,000. Finally, Harbour Investments Inc. bought a new stake in shares of Limbach during the second quarter valued at approximately $115,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.