Limbach Holdings, Inc. (NASDAQ:LMB) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst sentiment is mixed: Limbach has an average “Hold” rating from five analysts, with two sells, one hold and two buys. The average 12-month price target is $62, compared with the latest share price of $47.52.
• The stock has declined sharply: Shares trade well below their 50-day and 200-day moving averages and have ranged from $40.74 to $114.95 over the past year. Limbach recently reported quarterly EPS of $0.64, missing the $0.93 consensus estimate, while revenue also came in below expectations.
• Institutional ownership is substantial: Institutional investors hold 55.85% of the company, with BlackRock and other major funds building significant positions during the second quarter. An executive sold shares under a pre-arranged trading plan, while insiders collectively own 7% of the stock.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) has been assigned an average rating of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $62.00.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Wall Street Zen lowered Limbach from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a research report on Friday, August 21st. Stifel Nicolaus dropped their price objective on Limbach from $107.00 to $86.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. downgraded shares of Limbach from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $60.00 to $50.00 in a report on Friday, August 21st.

Insider Buying and Selling at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the transaction, the executive vice president owned 73,456 shares of the company's stock, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Limbach

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Limbach during the 2nd quarter worth approximately $75,410,000. California State Teachers Retirement System lifted its stake in Limbach by 8,693.2% in the 2nd quarter. California State Teachers Retirement System now owns 901,131 shares of the construction company's stock valued at $69,387,000 after purchasing an additional 890,883 shares during the last quarter. Invesco Ltd. grew its holdings in Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock worth $56,124,000 after purchasing an additional 381,897 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new position in Limbach during the second quarter worth approximately $24,944,381. Finally, Wasatch Advisors LP increased its position in Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company's stock worth $77,647,000 after buying an additional 273,818 shares during the last quarter. Institutional investors own 55.85% of the company's stock.

Limbach Stock Performance

LMB traded up $2.73 on Wednesday, hitting $47.52. 81,255 shares of the company traded hands, compared to its average volume of 262,087. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $63.10 and a 200-day moving average of $76.16. Limbach has a 12-month low of $40.74 and a 12-month high of $114.95. The stock has a market capitalization of $566.62 million, a PE ratio of 18.83 and a beta of 1.45.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The company had revenue of $173.46 million for the quarter, compared to analysts' expectations of $177.33 million. Sell-side analysts anticipate that Limbach will post 4.17 earnings per share for the current 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.

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