Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) shares hit a new 52-week low during trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $46.27 and last traded at $46.33, with a volume of 459846 shares traded. The stock had previously closed at $48.70.
Several other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Stifel Nicolaus decreased their price objective on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $88.00.
Check Out Our Latest Stock Report on Limbach
Insiders Place Their Bets
Institutional Investors Weigh In On Limbach
A number of institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after purchasing an additional 130 shares during the period. Comerica Bank grew its position in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. Caxton Associates LLP grew its position in Limbach by 4.9% during the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock worth $352,000 after buying an additional 168 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Limbach by 5.6% during the 2nd 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Limbach by 4.1% in 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 acquiring an additional 241 shares in the last quarter. 55.85% of the stock is owned by institutional investors.
Limbach Price Performance
The company has a fifty day simple moving average of $74.34 and a two-hundred day simple moving average of $80.68. The stock has a market capitalization of $553.55 million, a price-to-earnings ratio of 18.56 and a beta of 1.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49.
Limbach (NASDAQ:LMB – Get Free Report) last issued 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 company had revenue of $173.46 million during 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 research analysts expect that Limbach Holdings, Inc. will post 4.35 earnings per share for the current fiscal year.
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.
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