Limbach (NASDAQ:LMB) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Limbach to “Hold” from “Strong Sell,” but analyst sentiment remains mixed. The consensus rating is “Hold,” with a target price of $70.25.
• Limbach shares opened at $51.35, well below their 52-week high of $114.95. The company’s latest quarterly results missed expectations, reporting $0.64 in EPS versus $0.93 forecast 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 and hedge funds own 55.85% of the stock.

Limbach (NASDAQ:LMB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Limbach from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $60.00 to $50.00 in a report on Friday, August 21st. Wall Street Zen upgraded shares of Limbach from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Lake Street Capital upped their price objective on shares of Limbach from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a research note on Friday, August 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $70.25.

Limbach Stock Performance

LMB opened at $51.35 on Monday. The company has a market cap of $612.61 million, a PE ratio of 20.54 and a beta of 1.33. The stock has a 50-day moving average of $50.02 and a 200-day moving average of $69.68. Limbach has a 52-week low of $40.74 and a 52-week high of $114.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 EPS 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 company had revenue of $173.46 million for the quarter, compared to analyst estimates of $177.33 million. As a group, equities research analysts forecast that Limbach will post 4.29 earnings per share for the current fiscal year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz acquired 4,008 shares of Limbach stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $50.71 per share, with a total value of $203,245.68. Following the completion of the transaction, the director owned 171,208 shares of the company's stock, valued at $8,681,957.68. The trade was a 2.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 7,820 shares of company stock worth $391,002 in the last three months. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Limbach

Several large investors have recently bought and sold shares of LMB. BlackRock Inc. acquired a new stake in Limbach in the 2nd quarter worth $75,410,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Limbach during the second quarter valued at about $24,944,381. Dimensional Fund Advisors LP lifted its stake in shares of Limbach by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 265,771 shares of the construction company's stock valued at $20,743,000 after buying an additional 4,120 shares during the period. Bessemer Group Inc. grew its position in Limbach by 6.8% during the first quarter. Bessemer Group Inc. now owns 174,658 shares of the construction company's stock worth $13,632,000 after buying an additional 11,196 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Limbach by 2.3% during the first quarter. Renaissance Technologies LLC now owns 130,171 shares of the construction company's stock valued at $10,160,000 after acquiring an additional 2,900 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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