Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $48.11 and traded as high as $49.75. Limbach shares last traded at $48.32, with a volume of 118,483 shares traded.
Analysts Set New Price Targets
A number of brokerages recently weighed in on LMB. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. JPMorgan Chase & Co. lowered Limbach from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $60.00 to $50.00 in a research note on Friday, August 21st. Stifel Nicolaus reduced their target price on Limbach from $86.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Lake Street Capital increased their target price on Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.50.
Get Our Latest Stock Report on LMB
Limbach Stock Performance
The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $48.11 and a 200 day moving average price of $72.08. The firm has a market cap of $576.22 million, a PE ratio of 19.33 and a beta of 1.33.
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 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 analyst estimates of $177.33 million. As a group, equities research analysts expect that Limbach Holdings, Inc. will post 4.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Joshua Horowitz bought 4,008 shares of Limbach stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $50.71 per share, with a total value of $203,245.68. Following the completion of the purchase, the director directly owned 171,208 shares of the company’s stock, valued at approximately $8,681,957.68. This trade represents a 2.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 7,820 shares of company stock worth $391,002 over the last quarter. 7.00% of the stock is owned by insiders.
Institutional Trading of Limbach
Several hedge funds have recently made changes to their positions in the company. Isthmus Partners LLC lifted its holdings in Limbach by 15.2% in the third quarter. Isthmus Partners LLC now owns 47,587 shares of the construction company’s stock valued at $2,328,000 after acquiring an additional 6,263 shares during the last quarter. Skylands Capital LLC acquired a new stake in Limbach during the third quarter worth $1,670,000. State of Alaska Department of Revenue acquired a new stake in Limbach during the third quarter worth $25,000. Parkside Financial Bank & Trust acquired a new stake in Limbach during the second quarter worth $36,000. Finally, VELA Investment Management LLC raised its position in Limbach by 8.6% in the second quarter. VELA Investment Management LLC now owns 45,166 shares of the construction company’s stock valued at $3,478,000 after purchasing an additional 3,566 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.
Limbach Company Profile
Limbach Holdings, Inc (NASDAQ:LMB) provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.
Limbach’s services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.
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