Limbach (NASDAQ:LMB) Lowered to "Underweight" Rating by JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Limbach from “neutral” to “underweight” and set a $50 price target, implying roughly 17% upside from the prior close.
• Limbach’s stock opened at $42.75, near its 52-week low of $42.60, after the company reported quarterly EPS of $0.64—below the $0.93 analyst consensus—and revenue of $173.46 million, also under estimates.
• Analyst sentiment is mixed but leans negative: Limbach has an average “Reduce” rating and a consensus price target of $62, with two sell ratings, one hold and one buy.

Limbach (NASDAQ:LMB - Get Free Report) was downgraded by JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a note issued to investors on Friday. They presently have a $50.00 price objective on the construction company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 16.96% from the company's previous close.

A number of other brokerages also recently weighed in on LMB. Stifel Nicolaus cut their price target on shares of Limbach from $107.00 to $86.00 and set a "buy" rating for the company in a report on Monday, August 10th. Zacks Research cut shares of Limbach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Limbach from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a report on Friday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Limbach currently has an average rating of "Reduce" and an average price target of $62.00.

Limbach Stock Down 2.2%

NASDAQ:LMB opened at $42.75 on Friday. The firm has a market capitalization of $510.01 million, a PE ratio of 17.10 and a beta of 1.45. The stock has a 50 day moving average of $69.16 and a 200-day moving average of $78.73. Limbach has a 52 week low of $42.60 and a 52 week high of $128.57. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings data 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 return on equity of 23.22% and a net margin of 4.42%.The firm had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Analysts predict that Limbach will post 4.17 EPS for the current year.

Insider Buying and Selling at Limbach

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of Limbach

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Limbach during the second quarter valued at about $75,410,000. Invesco Ltd. lifted its position in shares of Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock worth $56,124,000 after acquiring an additional 381,897 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Limbach in the 2nd quarter worth approximately $24,944,381,000. Wasatch Advisors LP grew its holdings in shares of Limbach by 37.8% during the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company's stock worth $77,647,000 after purchasing an additional 273,818 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Limbach by 83.7% during the 4th quarter. Royce & Associates LP now owns 335,663 shares of the construction company's stock worth $26,131,000 after purchasing an additional 152,956 shares in the last quarter. 55.85% of the stock is owned by institutional investors.

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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