Limbach (NASDAQ:LMB) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Limbach (NASDAQ:LMB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Stifel Nicolaus decreased their target price on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $116.67.

Limbach Price Performance

LMB opened at $71.70 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.44 and a current ratio of 1.71. Limbach has a 1 year low of $65.08 and a 1 year high of $154.05. The stock has a market capitalization of $854.60 million, a PE ratio of 26.07 and a beta of 1.54. The company’s 50 day simple moving average is $85.40 and its 200 day simple moving average is $83.31.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million. During the same quarter in the previous year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Limbach will post 4.98 EPS for the current year.

Insider Buying and Selling

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 value of $159,980.00. Following the completion of the transaction, the executive vice president owned 79,027 shares in the company, valued at $6,321,369.73. This represents a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jayme L. Brooks sold 9,910 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total value of $778,529.60. Following the completion of the transaction, the chief financial officer owned 140,750 shares of the company’s stock, valued at approximately $11,057,320. This represents a 6.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,433 shares of company stock valued at $2,345,453. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

A number of institutional investors and hedge funds have recently bought and sold shares of LMB. Comerica Bank boosted its holdings in Limbach by 24.0% in 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. AQR Capital Management LLC boosted its holdings in Limbach by 5.5% in the 1st quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company’s stock worth $1,259,000 after acquiring an additional 876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Limbach by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock worth $451,000 after acquiring an additional 241 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Limbach by 2.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock worth $21,583,000 after acquiring an additional 7,771 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Limbach in the 2nd quarter worth approximately $421,000. 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.