Limbach (NASDAQ:LMB) Shares Gap Up – What’s Next?

Limbach Holdings, Inc. (NASDAQ:LMB) gapped up prior to trading on Tuesday . The stock had previously closed at $79.07, but opened at $83.21. Limbach shares last traded at $81.59, with a volume of 6,355 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LMB shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Stifel Nicolaus cut their price objective on shares of Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $133.50.

Limbach Trading Down 7.2%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $907.23 million, a price-to-earnings ratio of 25.71 and a beta of 1.26. The business has a fifty day simple moving average of $77.72 and a 200-day simple moving average of $102.83.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The firm had revenue of $184.58 million for the quarter, compared to the consensus estimate of $184.48 million. During the same quarter last year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. As a group, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Limbach announced that its board has approved a stock repurchase program on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the transaction, the insider owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Limbach

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank raised its position in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares during the last quarter. Caxton Associates LLP increased its stake in shares of Limbach by 4.9% in the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after buying an additional 168 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Limbach by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock worth $537,000 after acquiring an additional 204 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Limbach in the second quarter worth approximately $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Limbach by 4.1% in the first 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. 55.85% of the stock is currently owned by institutional investors and hedge funds.

About Limbach

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.