Limbach (NASDAQ:LMB) Upgraded at Zacks Research

Zacks Research upgraded shares of Limbach (NASDAQ:LMB) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.

Several other research firms have also recently commented on LMB. Wall Street Zen raised Limbach from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Lake Street Capital increased their price objective on Limbach from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Stifel Nicolaus reduced their target price on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.25.

Limbach Trading Down 0.7%

NASDAQ LMB opened at $50.97 on Monday. The stock has a market capitalization of $608.07 million, a P/E ratio of 20.39 and a beta of 1.33. Limbach has a 52-week low of $40.74 and a 52-week high of $114.95. The firm has a 50-day moving average price of $49.68 and a 200 day moving average price of $69.53. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The firm had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Equities research analysts expect that Limbach will post 4.29 EPS for the current year.

Insider Activity

In other news, Director Joshua Horowitz purchased 4,008 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of $50.71 per share, with a total value of $203,245.68. Following the purchase, the director directly owned 171,208 shares of the company’s stock, valued at $8,681,957.68. The trade was a 2.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have purchased 7,820 shares of company stock worth $391,002. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Limbach

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Limbach in the 2nd quarter worth about $75,410,000. Neumeier Poma Investment Counsel LLC purchased a new position in Limbach during the 2nd quarter valued at about $24,944,381. Polar Asset Management Partners Inc. purchased a new position in Limbach during the 2nd quarter valued at about $10,156,000. WCM Investment Management LLC acquired a new position in Limbach during the first quarter worth about $6,067,000. Finally, Grandeur Peak Global Advisors LLC acquired a new position in Limbach during the second quarter worth about $3,620,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

About Limbach

Limbach Holdings, Inc is a building systems solutions provider that designs, installs, services and maintains critical mechanical, electrical, plumbing and building automation systems. Its capabilities include heating, ventilation and air conditioning (HVAC), energy management, plumbing, electrical infrastructure, controls and other building systems that support the operation and efficiency of complex facilities.

The company serves institutional and commercial customers, including healthcare providers, universities and other educational institutions, life sciences organizations, government and public-sector entities, and industrial and commercial property owners.