Limbach (NASDAQ:LMB) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Limbach (NASDAQ:LMB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on LMB. Royal Bank Of Canada set a $50.00 price target on Limbach in a research note on Friday, August 21st. Stifel Nicolaus dropped their price objective on Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. JPMorgan Chase & Co. downgraded shares of Limbach from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $60.00 to $50.00 in a research report on Friday, August 21st. Finally, Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Two 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.25.

Limbach Stock Performance

Shares of LMB stock opened at $51.48 on Friday. The firm has a market capitalization of $614.16 million, a price-to-earnings ratio of 20.59 and a beta of 1.42. 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 business’s 50-day moving average price is $53.45 and its 200-day moving average price is $71.22. Limbach has a 12 month low of $40.74 and a 12 month high of $114.95.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share (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 firm had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Equities research analysts forecast that Limbach will post 4.29 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joshua Horowitz bought 4,008 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $50.71 per share, with a total value of $203,245.68. Following the completion of the transaction, the director directly owned 171,208 shares of the company’s stock, valued at $8,681,957.68. This represents a 2.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 7,820 shares of company stock worth $391,002 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Limbach during the second quarter worth about $75,410,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Limbach in the second quarter valued at approximately $24,944,381. Dimensional Fund Advisors LP lifted its stake in shares of Limbach by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 265,771 shares of the construction company’s stock valued at $20,743,000 after buying an additional 4,120 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Limbach by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 174,658 shares of the construction company’s stock valued at $13,632,000 after buying an additional 11,196 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in Limbach in the 2nd quarter worth approximately $10,156,000. Institutional investors own 55.85% of the company’s stock.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ:LMB) provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.