Limbach (NASDAQ:LMB) Sets New 1-Year Low - Should You Sell?

Key Points

• Limbach shares fell to a new 52-week low of $43.73, well below their 50-day and 200-day moving averages of $72.11 and $79.87, respectively.
• Analyst sentiment is mixed but leans toward caution: the consensus rating is “Hold” with a $88 price target, while recent actions included a price-target cut, a downgrade to “Strong Sell,” and a downgrade to “Hold.”
• Limbach’s latest quarterly results missed expectations, with EPS of $0.64 versus $0.93 forecast and revenue of $173.46 million versus $177.33 million expected; an executive also sold shares under a pre-arranged trading plan.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $43.73 and last traded at $43.7160, with a volume of 162203 shares. The stock had previously closed at $45.54.

Wall Street Analyst Weigh In

LMB has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Limbach in a research note on Wednesday, August 5th. Wall Street Zen lowered Limbach from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Stifel Nicolaus reduced their price objective on Limbach from $107.00 to $86.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Finally, Zacks Research cut Limbach from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $88.00.

Limbach Price Performance

The stock has a fifty day simple moving average of $72.11 and a two-hundred day simple moving average of $79.87. The company has a market cap of $521.58 million, a PE ratio of 17.49 and a beta of 1.45. 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 issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) 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 business had revenue of $173.46 million for the quarter, compared to analysts' expectations of $177.33 million. On average, equities analysts predict that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the transaction, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Limbach

A number of hedge funds and other institutional investors have recently modified their holdings of LMB. Caitong International Asset Management Co. Ltd grew its holdings in shares of Limbach by 23.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company's stock worth $53,000 after acquiring an additional 130 shares during the period. Comerica Bank raised its holdings in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company's stock worth $64,000 after purchasing an additional 167 shares during the last quarter. State of Wyoming purchased a new stake in Limbach during the second quarter worth $71,000. Fifth Third Bancorp purchased a new stake in Limbach during the first quarter worth $85,000. Finally, Royal Bank of Canada grew its holdings in Limbach by 34.5% in the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company's stock valued at $113,000 after purchasing an additional 371 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source