Limbach (NASDAQ:LMB) Stock Price Up 6.4% – Here’s What Happened

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price shot up 6.4% during trading on Wednesday . The stock traded as high as $47.83 and last traded at $47.6540. Approximately 237,765 shares traded hands during trading, a decline of 10% from the average session volume of 263,191 shares. The stock had previously closed at $44.79.

Wall Street Analyst Weigh In

Several analysts have issued reports on LMB shares. JPMorgan Chase & Co. lowered shares of Limbach from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $60.00 to $50.00 in a research report on Friday, August 21st. Stifel Nicolaus cut their price objective on shares of Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. Zacks Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Finally, Lake Street Capital boosted their price target on Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.25.

Limbach Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $578.17 million, a P/E ratio of 19.35 and a beta of 1.45. The stock’s 50 day moving average is $63.10 and its two-hundred day moving average is $76.16.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). The business had revenue of $173.46 million for the quarter, compared to the consensus estimate of $177.33 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. As a group, equities analysts predict that Limbach Holdings, Inc. will post 4.17 EPS for the current year.

Insider Activity at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the sale, the executive vice president owned 73,456 shares of the company’s stock, valued at $5,863,257.92. The trade was a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LMB. Comerica Bank boosted its stake in shares of Limbach by 24.0% in the 1st 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. AQR Capital Management LLC lifted its holdings in Limbach by 5.5% during the 1st quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company’s stock valued at $1,259,000 after purchasing an additional 876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Limbach by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after purchasing an additional 241 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Limbach by 2.8% in the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after buying an additional 7,771 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Limbach during the second quarter worth about $421,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Company Profile

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.