Wall Street Zen Downgrades Limbach (NASDAQ:LMB) to Buy

Limbach (NASDAQ:LMB) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

LMB has been the subject of several other reports. Roth Capital reissued a “buy” rating on shares of Limbach in a research report on Wednesday, May 7th. Stifel Nicolaus set a $146.00 price objective on shares of Limbach in a research note on Wednesday, August 6th. Finally, Lake Street Capital upped their price objective on shares of Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $127.33.

Limbach Stock Performance

Shares of LMB stock opened at $113.90 on Friday. Limbach has a fifty-two week low of $58.44 and a fifty-two week high of $154.05. The stock’s 50-day moving average is $134.69 and its two-hundred day moving average is $108.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market cap of $1.32 billion, a P/E ratio of 38.87, a PEG ratio of 2.17 and a beta of 1.22.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. Limbach had a return on equity of 29.38% and a net margin of 6.38%. The business had revenue of $142.24 million during the quarter, compared to analysts’ expectations of $144.21 million. During the same quarter in the previous year, the business posted $0.73 EPS. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts predict that Limbach will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Limbach news, insider Jay Sharp sold 2,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the transaction, the insider owned 69,877 shares in the company, valued at $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Limbach

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Limbach by 592.6% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock worth $28,000 after acquiring an additional 320 shares during the period. Legacy Advisors LLC bought a new stake in Limbach during the first quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Limbach in the second quarter valued at about $32,000. AlphaQuest LLC bought a new position in shares of Limbach in the first quarter worth about $53,000. Finally, Comerica Bank increased its stake in shares of Limbach by 727.4% in the fourth quarter. Comerica Bank now owns 695 shares of the construction company’s stock worth $59,000 after purchasing an additional 611 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.