Limbach (NASDAQ:LMB) Downgraded by Zacks Investment Research to “Strong Sell”

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Zacks Investment Research lowered shares of Limbach (NASDAQ:LMB) from a hold rating to a strong sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Limbach Holdings, Inc. provides building systems. The Company engineers, constructs and services the mechanical, plumbing, air conditioning, heating, building automation, electrical and control systems. Limbach Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “

Several other equities research analysts have also commented on LMB. DA Davidson cut their price target on shares of Limbach to $9.00 and set a buy rating on the stock in a research note on Monday, August 19th. TheStreet raised shares of Limbach from a d+ rating to a c rating in a research report on Wednesday, May 29th.

Shares of NASDAQ:LMB opened at $4.59 on Thursday. The company’s fifty day moving average price is $7.97 and its 200 day moving average price is $7.78. Limbach has a 12 month low of $3.56 and a 12 month high of $12.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $36.00 million, a P/E ratio of 36.23, a P/E/G ratio of 0.33 and a beta of 1.48.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Wednesday, August 14th. The construction company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.32). Limbach had a return on equity of 2.21% and a net margin of 0.09%. The company had revenue of $132.75 million for the quarter, compared to analyst estimates of $138.00 million. On average, sell-side analysts anticipate that Limbach will post 0.88 EPS for the current year.

In other Limbach news, insider 1347 Investors Llc sold 200,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $9.00, for a total transaction of $1,800,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 41.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of LMB. Advisor Group Inc. boosted its holdings in shares of Limbach by 438.4% in the second quarter. Advisor Group Inc. now owns 2,886 shares of the construction company’s stock valued at $26,000 after acquiring an additional 2,350 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Limbach by 690.0% in the second quarter. JPMorgan Chase & Co. now owns 7,900 shares of the construction company’s stock valued at $65,000 after acquiring an additional 6,900 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Limbach by 70.0% in the fourth quarter. BlackRock Inc. now owns 22,989 shares of the construction company’s stock valued at $85,000 after acquiring an additional 9,470 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Limbach in the second quarter valued at about $194,000. Finally, Marshall Wace LLP purchased a new stake in shares of Limbach in the second quarter valued at about $261,000. 31.37% of the stock is currently owned by institutional investors.

Limbach Company Profile

Limbach Holdings, Inc provides commercial specialty contract services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of heating, ventilation, air-conditioning (HVAC), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades.

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