Limbach (NASDAQ:LMB) Upgraded 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 sent to investors on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Stifel Nicolaus cut their price target on shares of Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

Limbach Price Performance

Limbach stock opened at $81.38 on Monday. The company’s 50 day simple moving average is $77.38 and its 200-day simple moving average is $102.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. Limbach has a 1 year low of $63.02 and a 1 year high of $154.05. The company has a market capitalization of $946.47 million, a price-to-earnings ratio of 26.57 and a beta of 1.26.

Limbach (NASDAQ:LMB) 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). Limbach had a net margin of 6.06% and a return on equity of 30.80%. The company had revenue of $184.58 million during the quarter, compared to analyst estimates of $184.48 million. During the same quarter last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 37.8% on a year-over-year basis. As a group, equities research analysts expect that Limbach will post 2.54 earnings per share for the current year.

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

Insiders Place Their Bets

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, December 15th. The stock was 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 of the company’s stock, valued at $5,067,062.42. The trade was a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Limbach

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMB. Thrivent Financial for Lutherans grew its position in shares of Limbach by 353.8% during the third quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after acquiring an additional 573,136 shares during the last quarter. Wasatch Advisors LP boosted its stake in Limbach by 13.3% during the 3rd quarter. Wasatch Advisors LP now owns 723,576 shares of the construction company’s stock worth $70,274,000 after purchasing an additional 84,697 shares during the period. Capital International Investors grew its position in Limbach by 10.7% during the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock worth $62,670,000 after purchasing an additional 62,483 shares during the last quarter. First Trust Advisors LP grew its position in Limbach by 1,192.1% during the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after purchasing an additional 379,357 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Limbach by 2,041.6% in the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after purchasing an additional 381,897 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

About Limbach

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.