Limbach (NASDAQ:LMB) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Limbach Holdings' stock was upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, indicating increased investor confidence.
• Stifel Nicolaus and Lake Street Capital raised their target prices for Limbach, now set at $163.00 and $156.00 respectively, with several analysts maintaining buy ratings.
• The company's recent quarterly earnings surpassed expectations, reporting $1.12 earnings per share and revenue of $133.11 million, reflecting an 11.9% year-over-year revenue growth.

Limbach (NASDAQ:LMB - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus raised their target price on shares of Limbach from $151.00 to $163.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Lake Street Capital raised their target price on shares of Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Roth Capital reiterated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $133.00.

Limbach Price Performance

Limbach stock traded up $0.08 during mid-day trading on Friday, hitting $135.72. The stock had a trading volume of 137,466 shares, compared to its average volume of 208,882. The firm's 50 day moving average is $136.90 and its 200 day moving average is $106.27. Limbach has a one year low of $48.17 and a one year high of $154.05. The firm has a market capitalization of $1.58 billion, a P/E ratio of 48.65, a P/E/G ratio of 2.58 and a beta of 1.19. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.82. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The firm had revenue of $133.11 million during the quarter, compared to the consensus estimate of $121.06 million. During the same quarter last year, the firm earned $0.69 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that Limbach will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the transaction, the insider directly owned 69,877 shares in the company, valued at $9,607,388.73. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.20% of the company's stock.

Institutional Trading of Limbach

Several large investors have recently bought and sold shares of LMB. Opal Wealth Advisors LLC acquired a new position in shares of Limbach in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc boosted its stake in Limbach by 592.6% during the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock worth $28,000 after purchasing an additional 320 shares during the period. Legacy Advisors LLC acquired a new stake in Limbach during the 1st quarter worth $30,000. Comerica Bank boosted its stake in Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after purchasing an additional 611 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of Limbach in the 1st quarter worth $53,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

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.