Limbach (NASDAQ:LMB) Hits New 52-Week High on Earnings Beat

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $111.09 and last traded at $112.73, with a volume of 52796 shares. The stock had previously closed at $103.33.

The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. The business had revenue of $133.11 million during the quarter, compared to analysts' expectations of $121.06 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS.

Analyst Upgrades and Downgrades

LMB has been the topic of several research reports. Roth Capital reissued a "buy" rating on shares of Limbach in a report on Wednesday. Stifel Nicolaus set a $103.00 price target on shares of Limbach in a research note on Wednesday, March 12th. Finally, Lake Street Capital boosted their price objective on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.67.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the transaction, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in Limbach by 385.4% in the third quarter. Barclays PLC now owns 16,879 shares of the construction company's stock worth $1,278,000 after purchasing an additional 13,402 shares during the period. Moody Aldrich Partners LLC acquired a new stake in Limbach during the 4th quarter worth $4,430,000. Tidal Investments LLC bought a new position in Limbach during the third quarter worth about $741,000. US Bancorp DE acquired a new position in Limbach in the fourth quarter valued at about $115,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Limbach by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company's stock worth $393,000 after acquiring an additional 699 shares in the last quarter. Institutional investors own 55.85% of the company's stock.

Limbach Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a 50-day moving average price of $84.39 and a 200 day moving average price of $89.10. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 55.61, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08.

Limbach Company Profile

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.