Limbach (NASDAQ:LMB) Rating Increased to Strong-Buy at Wall Street Zen

Limbach (NASDAQ:LMB - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

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

Limbach Stock Performance

Limbach stock opened at $133.84 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.56 billion, a PE ratio of 47.97, a PEG ratio of 2.38 and a beta of 1.19. The company's 50-day moving average is $136.73 and its two-hundred day moving average is $105.87. Limbach has a 1 year low of $48.17 and a 1 year high of $154.05.

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

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the transaction, the insider directly owned 69,877 shares of the company's stock, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Limbach

A number of hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in Limbach by 26.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 41,719 shares of the construction company's stock worth $5,674,000 after buying an additional 8,710 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Limbach by 16.7% during the second quarter. KLP Kapitalforvaltning AS now owns 2,100 shares of the construction company's stock worth $294,000 after buying an additional 300 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Limbach by 8.9% during the second quarter. Janney Montgomery Scott LLC now owns 26,060 shares of the construction company's stock worth $3,651,000 after buying an additional 2,137 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Limbach during the second quarter worth about $2,592,000. Finally, Accurate Wealth Management LLC acquired a new stake in Limbach during the second quarter worth about $348,000. 55.85% of the stock is owned by institutional investors.

About Limbach

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.

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