Limbach (NASDAQ:LMB) Hits New 52-Week Low After Analyst Downgrade

Limbach Holdings, Inc. (NASDAQ:LMB) reached a new 52-week low during trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $46.27 and last traded at $46.33, with a volume of 459846 shares traded. The stock had previously closed at $48.70.

A number of other analysts have also weighed in on LMB. Stifel Nicolaus reduced their price target on shares of Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Insider Activity at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the transaction, the executive vice president owned 73,456 shares in the company, valued at $5,863,257.92. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LMB. Wasatch Advisors LP grew its position in Limbach by 37.8% during the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after purchasing an additional 273,818 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Limbach in the second quarter valued at $75,410,000. Thrivent Financial for Lutherans lifted its holdings in shares of Limbach by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock valued at $61,550,000 after purchasing an additional 55,511 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after buying an additional 117,035 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Limbach by 2,041.6% in the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after buying an additional 381,897 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Stock Down 3.1%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $536.25 million, a PE ratio of 17.98 and a beta of 1.45. The business has a fifty day moving average price of $73.61 and a two-hundred day moving average price of $80.39.

Limbach (NASDAQ:LMB) last posted 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). The business had revenue of $173.46 million for the quarter, compared to analyst estimates of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. On average, analysts anticipate that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.

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.