Limbach (NASDAQ:LMB) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Limbach (NASDAQ:LMB) from a strong sell rating to a hold rating in a research report released on Monday,Zacks reports.

Several other research analysts have also recently weighed in on LMB. JPMorgan Chase & Co. cut shares of Limbach from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $60.00 to $50.00 in a research note on Friday, August 21st. Lake Street Capital lifted their price objective on Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Stifel Nicolaus lowered their price target on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Limbach from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Limbach presently has an average rating of “Hold” and a consensus price target of $70.25.

Limbach Trading Up 2.8%

NASDAQ:LMB opened at $51.35 on Monday. The company has a market cap of $612.61 million, a PE ratio of 20.54 and a beta of 1.33. 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 company has a 50 day simple moving average of $50.02 and a two-hundred day simple moving average of $69.68. Limbach has a 12 month low of $40.74 and a 12 month high of $114.95.

Limbach (NASDAQ:LMB) last posted 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 for the quarter, compared to analysts’ expectations of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. Research analysts forecast that Limbach will post 4.29 earnings per share for the current year.

Insider Activity at Limbach

In related news, Director Joshua Horowitz bought 4,008 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the transaction, the director owned 171,208 shares in the company, valued at $8,681,957.68. The trade was a 2.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 7,820 shares of company stock valued at $391,002 over the last quarter. 7.00% of the stock is currently owned by insiders.

Institutional Trading of Limbach

A number of institutional investors and hedge funds have recently bought and sold shares of LMB. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Limbach by 51.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company’s stock valued at $66,000 after purchasing an additional 286 shares during the period. Janney Montgomery Scott LLC increased its holdings in Limbach by 13.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,288 shares of the construction company’s stock worth $257,000 after purchasing an additional 394 shares during the period. Parkside Financial Bank & Trust bought a new stake in Limbach during the 2nd quarter valued at $36,000. Cetera Investment Advisers raised its position in Limbach by 8.8% during the 1st quarter. Cetera Investment Advisers now owns 5,833 shares of the construction company’s stock valued at $455,000 after purchasing an additional 473 shares in the last quarter. Finally, Keebeck Wealth Management raised its position in Limbach by 15.7% during the 1st quarter. Keebeck Wealth Management now owns 3,677 shares of the construction company’s stock valued at $287,000 after purchasing an additional 498 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors.

About Limbach

Limbach Holdings, Inc is a building systems solutions provider that designs, installs, services and maintains critical mechanical, electrical, plumbing and building automation systems. Its capabilities include heating, ventilation and air conditioning (HVAC), energy management, plumbing, electrical infrastructure, controls and other building systems that support the operation and efficiency of complex facilities.

The company serves institutional and commercial customers, including healthcare providers, universities and other educational institutions, life sciences organizations, government and public-sector entities, and industrial and commercial property owners.