Zacks Research Upgrades Limbach (NASDAQ:LMB) to Hold

Limbach (NASDAQ:LMB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also issued reports on LMB. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus cut their price objective on shares of Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Limbach presently has an average rating of “Moderate Buy” and a consensus price target of $133.50.

Limbach Trading Down 3.7%

NASDAQ LMB opened at $80.98 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. Limbach has a twelve month low of $63.02 and a twelve month high of $154.05. The firm has a market capitalization of $941.80 million, a PE ratio of 26.64 and a beta of 1.26. The stock’s 50 day moving average is $77.38 and its 200 day moving average is $102.43.

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

Limbach announced that its Board of Directors has approved a stock buyback plan on Monday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Institutional investors and hedge funds have recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Limbach in the 2nd quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Limbach in the third quarter worth $54,000. AdvisorShares Investments LLC purchased a new position in shares of Limbach in the second quarter worth $114,000. Harbour Investments Inc. bought a new position in shares of Limbach during the second quarter valued at $115,000. Finally, Comerica Bank lifted its holdings in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

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.