Limbach (NASDAQ:LMB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Limbach (NASDAQ:LMB – Free Report) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also weighed in on LMB. Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a report on Friday, August 21st. Lake Street Capital upped their price objective on shares of Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. downgraded Limbach from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $60.00 to $50.00 in a research note on Friday, August 21st. Finally, Stifel Nicolaus cut their price target on Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.25.

Read Our Latest Report on Limbach

Limbach Price Performance

Limbach stock opened at $48.56 on Friday. The firm has a fifty day moving average of $52.94 and a 200-day moving average of $70.91. Limbach has a 52-week low of $40.74 and a 52-week high of $114.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $579.32 million, a P/E ratio of 19.42 and a beta of 1.42.

Limbach (NASDAQ:LMB – Get Free Report) last posted its 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 business had revenue of $173.46 million for the quarter, compared to analyst estimates of $177.33 million. As a group, analysts predict that Limbach will post 4.29 EPS for the current year.

Insider Buying and Selling

In other Limbach news, Director Joshua Horowitz purchased 4,008 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $50.71 per share, with a total value of $203,245.68. Following the acquisition, the director owned 171,208 shares of the company’s stock, valued at approximately $8,681,957.68. This represents a 2.40% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired a total of 7,820 shares of company stock valued at $391,002 over the last three months. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Limbach

A number of hedge funds have recently added to or reduced their stakes in LMB. BlackRock Inc. bought a new position in shares of Limbach in the second quarter valued at approximately $75,410,000. Neumeier Poma Investment Counsel LLC bought a new stake in Limbach during the second quarter worth approximately $24,944,381. Dimensional Fund Advisors LP lifted its position in Limbach by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 265,771 shares of the construction company’s stock worth $20,743,000 after purchasing an additional 4,120 shares during the period. Bessemer Group Inc. boosted its stake in Limbach by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 174,658 shares of the construction company’s stock valued at $13,632,000 after purchasing an additional 11,196 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Limbach during the 2nd quarter valued at $10,156,000. 55.85% of the stock is currently owned by institutional investors.

Limbach Company Profile

(Get Free Report)

Limbach Holdings, Inc (NASDAQ:LMB) provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.

See Also

Analyst Recommendations for Limbach (NASDAQ:LMB)

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