Limbach (NASDAQ:LMB) Shares Gap Down – Here’s Why

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) gapped down before the market opened on Wednesday . The stock had previously closed at $114.11, but opened at $97.30. Limbach shares last traded at $77.2490, with a volume of 103,606 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LMB shares. JPMorgan Chase & Co. dropped their price target on Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Stifel Nicolaus dropped their price target on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Limbach has an average rating of “Hold” and an average price target of $116.67.

Limbach Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.44. The company has a 50 day simple moving average of $85.40 and a 200-day simple moving average of $83.31. The stock has a market cap of $854.68 million, a P/E ratio of 26.07 and a beta of 1.54.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The company had revenue of $138.86 million during the quarter, compared to analyst estimates of $134.23 million. During the same quarter in the previous year, the company posted $1.12 EPS. Limbach’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts expect that Limbach Holdings, Inc. will post 4.69 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In other Limbach news, EVP Jay Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the completion of the transaction, the executive vice president owned 79,027 shares of the company’s stock, valued at $6,321,369.73. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jayme L. Brooks sold 3,440 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $100.00, for a total value of $344,000.00. Following the transaction, the chief financial officer directly owned 125,227 shares of the company’s stock, valued at $12,522,700. The trade was a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 27,433 shares of company stock valued at $2,345,453. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Limbach during the 3rd quarter worth approximately $54,000. Comerica Bank grew 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 acquiring an additional 167 shares during the period. Fifth Third Bancorp purchased a new position in shares of Limbach during the 1st quarter worth approximately $85,000. BNP Paribas Financial Markets grew its holdings in shares of Limbach by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after acquiring an additional 423 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Limbach by 34.5% during 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 during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

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.