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

by · The Cerbat Gem

Limbach (NASDAQ:LMB – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently commented on LMB. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lowered Limbach from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $60.00 to $50.00 in a research note on Friday, August 21st. Royal Bank Of Canada set a $50.00 price objective on Limbach in a report on Friday, August 21st. Lake Street Capital upped their target price on Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Zacks Research cut Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Limbach currently has an average rating of “Hold” and a consensus target price of $70.25.

Get Our Latest Stock Report on Limbach

Limbach Stock Performance

Limbach stock opened at $51.48 on Friday. Limbach has a 12-month low of $40.74 and a 12-month high of $114.95. The company 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 debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s fifty day moving average price is $53.45 and its 200 day moving average price is $71.13.

Limbach (NASDAQ:LMB – Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $177.33 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. On average, research analysts forecast that Limbach will post 4.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joshua Horowitz bought 4,008 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the purchase, the director 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 7,820 shares of company stock valued at $391,002 over the last quarter. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

Several institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in Limbach in the 2nd quarter valued at about $36,000. Caitong International Asset Management Co. Ltd grew its position in Limbach by 51.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company’s stock worth $66,000 after purchasing an additional 286 shares during the last quarter. State of Wyoming acquired a new stake in shares of Limbach in the second quarter valued at approximately $71,000. Fifth Third Bancorp bought a new stake in shares of Limbach during the first quarter valued at approximately $85,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of Limbach during the second quarter valued at approximately $154,000. Institutional investors own 55.85% of the company’s stock.

About Limbach

(Get Free Report)

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.

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