Limbach (NASDAQ:LMB) Shares Gap Down After Earnings Miss

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $90.80, but opened at $81.08. Limbach shares last traded at $85.01, with a volume of 43,732 shares.

The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a net margin of 6.38% and a return on equity of 29.38%. The business had revenue of $184.58 million for the quarter, compared to analysts’ expectations of $184.48 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The business’s quarterly revenue was up 37.8% on a year-over-year basis. Limbach has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

Several analysts have issued reports on LMB shares. Stifel Nicolaus cut their price target on shares of Limbach from $146.00 to $132.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wall Street Zen upgraded shares of Limbach from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Limbach in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Limbach has a consensus rating of “Buy” and a consensus price target of $144.00.

Institutional Trading of Limbach

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Limbach by 7.5% in the first quarter. Principal Financial Group Inc. now owns 13,873 shares of the construction company’s stock worth $1,033,000 after buying an additional 963 shares during the period. Teacher Retirement System of Texas lifted its holdings in Limbach by 259.3% in the first quarter. Teacher Retirement System of Texas now owns 12,408 shares of the construction company’s stock worth $924,000 after buying an additional 8,955 shares during the period. Northern Trust Corp lifted its holdings in Limbach by 81.7% in the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after buying an additional 74,986 shares during the period. FAS Wealth Partners Inc. purchased a new stake in Limbach in the first quarter worth about $216,000. Finally, Caxton Associates LLP purchased a new stake in Limbach in the first quarter worth about $416,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Stock Down 7.1%

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $99.38 and its 200 day simple moving average is $116.97. The firm has a market capitalization of $980.74 million, a PE ratio of 28.91 and a beta of 1.42.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.