Limbach (NASDAQ:LMB) Trading 6.4% Higher – Still a Buy?

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price traded up 6.4% on Wednesday . The company traded as high as $47.83 and last traded at $47.6540. 237,765 shares traded hands during trading, a decline of 10% from the average daily volume of 263,191 shares. The stock had previously closed at $44.79.

Analyst Upgrades and Downgrades

LMB has been the subject of a number of research reports. Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a report on Friday, August 21st. Zacks Research cut Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. Finally, Lake Street Capital lifted their target price on Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.25.

Limbach Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49. The company has a 50-day simple moving average of $61.82 and a 200-day simple moving average of $75.59. The company has a market cap of $591.13 million, a price-to-earnings ratio of 19.82 and a beta of 1.42.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The business had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. As a group, research analysts predict that Limbach Holdings, Inc. will post 4.17 earnings per share for the current year.

Insider Buying and Selling

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.00% of the company’s stock.

Institutional Trading of Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its position in shares of Limbach by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock valued at $61,550,000 after purchasing an additional 55,511 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Limbach by 83.7% during the 4th quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock worth $26,131,000 after purchasing an additional 152,956 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Limbach during the second quarter worth about $75,410,000. Granite Investment Partners LLC raised its position in shares of Limbach by 20.3% in the first quarter. Granite Investment Partners LLC now owns 110,269 shares of the construction company’s stock valued at $8,606,000 after buying an additional 18,572 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Limbach by 23.7% during the fourth quarter. UBS Group AG now owns 60,874 shares of the construction company’s stock valued at $4,739,000 after buying an additional 11,644 shares during the period. Institutional investors and hedge funds 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.