Limbach (NASDAQ:LMB) Stock Price Up 5.3% – Still a Buy?

Limbach Holdings, Inc. (NASDAQ:LMB) shares were up 5.3% during trading on Tuesday . The stock traded as high as $83.87 and last traded at $83.32. Approximately 62,873 shares traded hands during trading, a decline of 70% from the average daily volume of 212,518 shares. The stock had previously closed at $79.09.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Zacks Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Stifel Nicolaus reduced their target price on shares of Limbach from $146.00 to $132.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research note on Wednesday, December 10th. Finally, Wall Street Zen cut shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $144.00.

Limbach Stock Performance

The firm has a fifty day moving average price of $82.11 and a 200 day moving average price of $108.84. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a market cap of $971.11 million, a PE ratio of 27.48 and a beta of 1.26.

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

Limbach announced that its board has approved a share buyback plan on Monday, December 15th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Limbach

A number of hedge funds have recently modified their holdings of LMB. Opal Wealth Advisors LLC purchased a new position in Limbach during the second quarter worth about $32,000. AlphaQuest LLC purchased a new position in shares of Limbach during the 1st quarter worth approximately $53,000. Caitong International Asset Management Co. Ltd acquired a new stake in Limbach in the 3rd quarter valued at approximately $54,000. Comerica Bank increased its holdings in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in Limbach in the second quarter valued at approximately $114,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

About Limbach

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.