Limbach Holdings, Inc. (NASDAQ:LMB) Given Average Recommendation of “Moderate Buy” by Brokerages

Limbach Holdings, Inc. (NASDAQ:LMB) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $120.00.

LMB has been the topic of several recent research reports. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. began coverage on Limbach in a research report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price objective for the company. Stifel Nicolaus decreased their target price on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Finally, Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th.

Limbach Price Performance

Shares of NASDAQ LMB opened at $82.10 on Monday. Limbach has a twelve month low of $63.02 and a twelve month high of $154.05. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $85.70 and a two-hundred day moving average of $88.97. The company has a market capitalization of $958.93 million, a price-to-earnings ratio of 25.34 and a beta of 1.32.

Limbach (NASDAQ:LMB) last released its earnings results on Monday, March 2nd. The construction company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The business had revenue of $186.87 million for the quarter, compared to the consensus estimate of $197.56 million. During the same period in the previous year, the firm earned $1.15 EPS. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, analysts expect that Limbach will post 2.54 earnings per share for the current fiscal year.

Limbach announced that its board has approved a share repurchase plan on Monday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Limbach

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

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Limbach by 23.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after purchasing an additional 130 shares in the last quarter. Comerica Bank raised its position in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the period. Royal Bank of Canada lifted its stake in Limbach by 34.5% in the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after acquiring an additional 371 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Limbach during the 4th quarter worth about $150,000. Finally, SG Americas Securities LLC grew its stake in Limbach by 85.0% during 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. Institutional investors and hedge funds 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.