Limbach (NASDAQ:LMB) Shares Gap Up After Analyst Upgrade

by · The Markets Daily

Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) gapped up before the market opened on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock had previously closed at $79.07, but opened at $83.21. Limbach shares last traded at $81.59, with a volume of 6,355 shares trading hands.

A number of other brokerages also recently issued reports on LMB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Stifel Nicolaus lowered their price target on Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Finally, Wall Street Zen lowered Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

View Our Latest Stock Analysis on LMB

Insider Activity

In other Limbach news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the sale, the insider directly owned 64,979 shares in the company, valued at $5,067,062.42. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Limbach in the second quarter worth approximately $868,000. Castleark Management LLC purchased a new position in shares of Limbach during the 2nd quarter valued at $2,962,000. Caxton Associates LLP bought a new position in Limbach in the 1st quarter worth $416,000. Nadler Financial Group Inc. purchased a new stake in Limbach in the 2nd quarter worth $240,000. Finally, First Trust Advisors LP raised its holdings in Limbach by 1,192.1% during the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after acquiring an additional 379,357 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Down 0.2%

The firm has a market capitalization of $890.74 million, a PE ratio of 25.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The company has a 50-day moving average price of $77.01 and a 200 day moving average price of $102.25.

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

Limbach declared that its board has authorized a share repurchase plan on Monday, December 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

About Limbach

(Get Free Report)

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.

Further Reading