Zacks Research Upgrades Limbach (NASDAQ:LMB) to “Hold”

Limbach (NASDAQ:LMB) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Other analysts also recently issued reports about the company. Royal Bank Of Canada set a $50.00 price objective on Limbach in a research report on Friday, August 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. Stifel Nicolaus lowered their target price on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Lake Street Capital increased their target price on shares of Limbach from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen upgraded shares of Limbach from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Limbach presently has an average rating of “Hold” and an average target price of $70.25.

Limbach Stock Up 2.8%

Shares of LMB opened at $51.35 on Monday. The firm has a 50 day simple moving average of $50.02 and a two-hundred day simple moving average of $69.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. Limbach has a one year low of $40.74 and a one year high of $114.95. The company has a market cap of $612.61 million, a P/E ratio of 20.54 and a beta of 1.33.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $177.33 million. Research analysts forecast that Limbach will post 4.29 EPS for the current fiscal year.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz purchased 4,008 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $50.71 per share, with a total value of $203,245.68. Following the completion of the purchase, the director owned 171,208 shares in the company, valued at $8,681,957.68. This represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 7,820 shares of company stock valued at $391,002 over the last quarter. 7.00% of the stock is currently owned by insiders.

Institutional Trading of Limbach

Several hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Limbach by 51.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company’s stock worth $66,000 after acquiring an additional 286 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Limbach by 13.6% during the first quarter. Janney Montgomery Scott LLC now owns 3,288 shares of the construction company’s stock worth $257,000 after purchasing an additional 394 shares during the period. Parkside Financial Bank & Trust acquired a new position in shares of Limbach during the second quarter worth approximately $36,000. Cetera Investment Advisers lifted its holdings in shares of Limbach by 8.8% in the 1st quarter. Cetera Investment Advisers now owns 5,833 shares of the construction company’s stock worth $455,000 after purchasing an additional 473 shares in the last quarter. Finally, Keebeck Wealth Management lifted its holdings in shares of Limbach by 15.7% in the 1st quarter. Keebeck Wealth Management now owns 3,677 shares of the construction company’s stock worth $287,000 after purchasing an additional 498 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

About Limbach

Limbach Holdings, Inc is a building systems solutions provider that designs, installs, services and maintains critical mechanical, electrical, plumbing and building automation systems. Its capabilities include heating, ventilation and air conditioning (HVAC), energy management, plumbing, electrical infrastructure, controls and other building systems that support the operation and efficiency of complex facilities.

The company serves institutional and commercial customers, including healthcare providers, universities and other educational institutions, life sciences organizations, government and public-sector entities, and industrial and commercial property owners.