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

Limbach (NASDAQ:LMB) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research analysts also recently commented on LMB. Roth Capital reaffirmed a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. Lake Street Capital raised their price objective on Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Stifel Nicolaus set a $146.00 price objective on shares of Limbach in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $127.33.

Limbach Trading Down 1.1%

LMB opened at $113.90 on Friday. Limbach has a 12-month low of $58.44 and a 12-month high of $154.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $1.32 billion, a PE ratio of 38.87, a P/E/G ratio of 2.17 and a beta of 1.22. The firm’s fifty day moving average price is $134.69 and its 200 day moving average price is $108.57.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, August 5th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.12. The business had revenue of $142.24 million for the quarter, compared to analyst estimates of $144.21 million. Limbach had a net margin of 6.38% and a return on equity of 29.38%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. As a group, research analysts expect that Limbach will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the transaction, the insider directly owned 69,877 shares of the company’s stock, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Limbach

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in Limbach by 10.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,009 shares of the construction company’s stock valued at $2,483,000 after acquiring an additional 3,034 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Limbach by 16,413.0% during the first quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company’s stock valued at $283,000 after purchasing an additional 3,775 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Limbach by 7.5% during the first quarter. Principal Financial Group Inc. now owns 13,873 shares of the construction company’s stock valued at $1,033,000 after purchasing an additional 963 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Limbach by 259.3% during the first quarter. Teacher Retirement System of Texas now owns 12,408 shares of the construction company’s stock valued at $924,000 after purchasing an additional 8,955 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Limbach in the fourth quarter worth about $246,000. 55.85% of the stock is owned by institutional investors.

About Limbach

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.