Limbach’s (LMB) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of Limbach (NASDAQ:LMB) in a report published on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $50.00 target price on the construction company’s stock, down from their prior target price of $60.00.

LMB has been the subject of several other reports. Stifel Nicolaus decreased their price objective on Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a research report on Friday. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research downgraded shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $62.00.

Limbach Price Performance

NASDAQ:LMB opened at $42.90 on Friday. Limbach has a 12 month low of $41.92 and a 12 month high of $128.57. The stock has a 50 day moving average of $68.44 and a two-hundred day moving average of $78.43. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a market cap of $511.80 million, a P/E ratio of 17.16 and a beta of 1.45.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). The firm had revenue of $173.46 million for the quarter, compared to analyst estimates of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. On average, analysts expect that Limbach will post 4.17 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Institutional Trading of Limbach

Several hedge funds have recently made changes to their positions in LMB. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Limbach during the 3rd quarter valued at approximately $54,000. Comerica Bank lifted its holdings in Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares during the last quarter. State of Wyoming purchased a new position in Limbach in the second quarter worth approximately $71,000. Fifth Third Bancorp purchased a new position in Limbach in the first quarter worth approximately $85,000. Finally, BNP Paribas Financial Markets increased its stake in Limbach by 59.7% during the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after acquiring an additional 423 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 (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.