Limbach (NASDAQ:LMB) Shares Gap Up – Time to Buy?

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $79.07, but opened at $83.21. Limbach shares last traded at $81.59, with a volume of 6,355 shares.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of recent research reports. Wall Street Zen downgraded Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus reduced their price target on Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Zacks Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $133.50.

Limbach Stock Performance

The stock has a market capitalization of $907.23 million, a price-to-earnings ratio of 25.71 and a beta of 1.26. The company’s fifty day simple moving average is $77.72 and its 200 day simple moving average is $102.83. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The company had revenue of $184.58 million for the quarter, compared to analyst estimates of $184.48 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. On average, equities research analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has authorized a share buyback program on Monday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the sale, the insider directly owned 64,979 shares in the company, valued at $5,067,062.42. The trade was a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Limbach

Institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in Limbach during the second quarter worth about $32,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Limbach during the 3rd quarter worth approximately $54,000. Comerica Bank increased its holdings in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares during the period. AdvisorShares Investments LLC acquired a new stake in shares of Limbach in the second quarter valued at approximately $114,000. Finally, Harbour Investments Inc. bought a new stake in shares of Limbach in the second quarter valued at approximately $115,000. Institutional investors own 55.85% of the company’s stock.

Limbach Company Profile

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.