Limbach (NASDAQ:LMB) Stock Price Up 12.9% Following Analyst Upgrade

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) traded up 12.9% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $55.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Limbach traded as high as $58.04 and last traded at $56.3490. 16,273 shares traded hands during trading, a decline of 94% from the average session volume of 268,366 shares. The stock had previously closed at $49.92.

LMB has been the subject of several other research reports. 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. Weiss Ratings restated a “hold (c)” rating on shares of Limbach in a research report on Tuesday. Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a report on Friday, August 21st. Lake Street Capital lifted their target price on shares of Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Wall Street Zen raised shares of Limbach from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Limbach currently has a consensus rating of “Hold” and an average target price of $68.75.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz purchased 4,008 shares of the stock in a transaction dated Tuesday, September 15th. The shares were purchased 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 directly owned 171,208 shares of the company’s stock, valued at approximately $8,681,957.68. The trade was a 2.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased a total of 7,820 shares of company stock valued at $391,002 in the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMB. Parkside Financial Bank & Trust acquired a new stake in Limbach during the 2nd quarter worth $36,000. State of Alaska Department of Revenue acquired a new stake in shares of Limbach in the third quarter valued at about $25,000. State of Wyoming acquired a new stake in shares of Limbach in the second quarter valued at about $71,000. Fifth Third Bancorp purchased a new position in shares of Limbach in the first quarter worth about $85,000. Finally, Palouse Capital Management Inc. purchased a new position in shares of Limbach in the second quarter worth about $154,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Trading Down 1.9%

The stock has a market capitalization of $637.66 million, a PE ratio of 20.88 and a beta of 1.37. The company’s 50 day moving average price is $49.66 and its two-hundred day moving average price is $70.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 3rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $230.46 million during the quarter, compared to analysts’ expectations of $218.59 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. As a group, analysts expect that Limbach Holdings, Inc. will post 4.34 earnings per share for the current year.

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.