Limbach (NASDAQ:LMB) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Limbach to “Buy” from “Hold,” though broader analyst sentiment remains “Hold,” with two Buy, one Hold, and two Sell ratings and an average price target of $70.25.
• Limbach shares opened at $51.48, well below their 12-month high of $114.95. The company’s latest quarterly results missed expectations, reporting $0.64 in earnings per share versus the $0.93 consensus estimate and revenue of $173.46 million versus $177.33 million expected.
• Insiders purchased 7,820 shares worth approximately $391,000 over the past three months, while institutional investors own 55.85% of the company’s stock.

Limbach (NASDAQ:LMB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

LMB has been the subject of a number of other research reports. Zacks Research downgraded shares of Limbach from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Lake Street Capital boosted their target price on shares of Limbach from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Limbach in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lowered shares of Limbach from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $60.00 to $50.00 in a research note on Friday, August 21st. Finally, Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $70.25.

Limbach Stock Performance

Shares of LMB opened at $51.48 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $614.16 million, a price-to-earnings ratio of 20.59 and a beta of 1.42. The stock has a 50 day moving average of $53.45 and a 200 day moving average of $71.22. Limbach has a 12 month low of $40.74 and a 12 month high of $114.95.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.29). The business had revenue of $173.46 million for the quarter, compared to the consensus estimate of $177.33 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. As a group, sell-side analysts forecast that Limbach will post 4.29 earnings per share for the current year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz bought 4,008 shares of Limbach stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the purchase, the director directly owned 171,208 shares of the company's stock, valued at approximately $8,681,957.68. This trade represents a 2.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 7,820 shares of company stock worth $391,002 in the last three months. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

A number of large investors have recently made changes to their positions in LMB. Parkside Financial Bank & Trust bought a new position in shares of Limbach during the 2nd quarter valued at about $36,000. VELA Investment Management LLC raised its holdings in shares of Limbach by 8.6% during the 2nd quarter. VELA Investment Management LLC now owns 45,166 shares of the construction company's stock valued at $3,478,000 after buying an additional 3,566 shares in the last quarter. Corient Private Wealth LP lifted its position in Limbach by 34.5% in the 2nd quarter. Corient Private Wealth LP now owns 23,135 shares of the construction company's stock worth $1,781,000 after buying an additional 5,938 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in Limbach in the 2nd quarter worth approximately $3,620,000. Finally, Kerrisdale Advisers LLC purchased a new stake in Limbach in the second quarter worth approximately $1,579,000. 55.85% of the stock is owned by institutional investors.

About Limbach

Limbach Holdings, Inc NASDAQ: LMB provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.

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