Limbach Holdings, Inc. (NASDAQ:LMB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Limbach Holdings, Inc. (NASDAQ:LMB) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $120.00.

Several brokerages have commented on LMB. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. JPMorgan Chase & Co. initiated coverage on Limbach in a research note on Tuesday. They issued a “neutral” rating and a $100.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Stifel Nicolaus decreased their target price on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th.

Limbach Stock Down 8.0%

NASDAQ:LMB opened at $82.48 on Thursday. Limbach has a one year low of $63.02 and a one year high of $154.05. 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 market cap of $959.24 million, a PE ratio of 27.13 and a beta of 1.29. The firm’s 50 day simple moving average is $79.51 and its 200 day simple moving average is $93.86.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). The business had revenue of $184.58 million for the quarter, compared to the consensus estimate of $184.48 million. Limbach had a net margin of 6.06% and a return on equity of 30.80%. Limbach’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 EPS. On average, research analysts anticipate that Limbach will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has authorized a share repurchase program on Monday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Limbach

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Limbach during the third quarter worth approximately $54,000. Comerica Bank boosted its holdings in shares of Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of Limbach during the 2nd quarter worth approximately $114,000. Harbour Investments Inc. bought a new stake in shares of Limbach in the 2nd quarter valued at $115,000. Finally, SG Americas Securities LLC increased its stake in shares of Limbach by 85.0% in the 3rd quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after acquiring an additional 749 shares in the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Limbach Company Profile

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.