Limbach (NASDAQ:LMB – Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Friday. They currently have a $50.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 16.96% from the company’s current price.
A number of other equities analysts have also issued reports on LMB. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a report on Friday. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus lowered their target price on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 10th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Limbach currently has an average rating of “Reduce” and an average price target of $62.00.
Read Our Latest Stock Analysis on LMB
Limbach Trading Down 2.2%
Limbach (NASDAQ:LMB – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The firm had revenue of $173.46 million for the quarter, compared to the consensus estimate of $177.33 million. Equities analysts anticipate that Limbach will post 4.17 earnings per share for the current fiscal year.
Insider Transactions at Limbach
In other Limbach news, EVP Jay Sharp sold 4,871 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted 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 acquiring an additional 167 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Limbach by 5.5% in the first 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. raised its holdings 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 valued at $451,000 after purchasing an additional 241 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Limbach by 2.8% in the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock worth $21,583,000 after purchasing an additional 7,771 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Limbach during the second quarter worth $421,000. 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.
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