Limbach (NASDAQ:LMB) Announces Earnings Results

Limbach (NASDAQ:LMB) released its quarterly earnings data on Tuesday. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16, FiscalAI reports. The firm had revenue of $230.46 million during the quarter, compared to analyst estimates of $218.59 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%.

Limbach Price Performance

NASDAQ LMB traded up $2.99 on Tuesday, hitting $49.92. 269,826 shares of the company were exchanged, compared to its average volume of 266,314. Limbach has a 1-year low of $40.74 and a 1-year high of $114.95. The firm has a 50 day moving average of $48.69 and a two-hundred day moving average of $71.33. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. The company has a market cap of $595.55 million, a P/E ratio of 19.97 and a beta of 1.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LMB shares. Weiss Ratings restated a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Limbach from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Stifel Nicolaus cut their price target on shares of Limbach from $86.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Lake Street Capital lifted their price target on shares of Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Limbach currently has a consensus rating of “Hold” and an average price target of $67.50.

Insiders Place Their Bets

In related news, Director Joshua Horowitz bought 4,008 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $50.71 per share, with a total value of $203,245.68. Following the completion of the purchase, the director owned 171,208 shares in the company, valued at approximately $8,681,957.68. The trade was a 2.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 7,820 shares of company stock valued at $391,002. Company insiders own 7.00% of the company’s stock.

About Limbach

Limbach Holdings, Inc (NASDAQ:LMB) provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.

Limbach’s services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.