Limbach (NASDAQ:LMB) Sets New 52-Week Low Following Analyst Downgrade

Key Points

• Limbach shares fell 4.9% to a new 52-week low of $46.27 after Stifel Nicolaus cut its price target from $107 to $86, though it maintained a Buy rating.
• Analyst sentiment has weakened, with the stock carrying an average Hold rating and an $88 consensus price target; the company also missed quarterly earnings and revenue estimates.
• Institutional ownership stands at 55.85%, highlighted by BlackRock’s roughly $75.4 million new stake, while an executive sold 4,871 shares under a pre-arranged trading plan.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $107.00 to $86.00. Stifel Nicolaus currently has a buy rating on the stock. Limbach traded as low as $46.27 and last traded at $46.33, with a volume of 459846 shares. The stock had previously closed at $48.70.

Several other research analysts also recently weighed in on LMB. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Wall Street Zen cut Limbach from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Limbach currently has an average rating of "Hold" and a consensus price target of $88.00.

Insiders Place Their Bets

In other Limbach news, EVP Jay Sharp sold 4,871 shares of Limbach stock in a transaction 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 sale, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. The trade was a 6.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Limbach

Several large investors have recently made changes to their positions in LMB. BlackRock Inc. purchased a new stake in shares of Limbach in the second quarter worth about $75,410,000. Deutsche Bank AG purchased a new position in Limbach during the 2nd quarter valued at approximately $919,000. Bank of New York Mellon Corp purchased a new position in Limbach during the 2nd quarter valued at approximately $2,981,000. State of Wyoming bought a new stake in Limbach in the 2nd quarter worth approximately $71,000. Finally, Palouse Capital Management Inc. bought a new stake in Limbach in the 2nd quarter worth approximately $154,000. 55.85% of the stock is owned by institutional investors.

Limbach Stock Down 4.9%

The firm has a market capitalization of $552.72 million, a PE ratio of 18.53 and a beta of 1.45. The company has a fifty day moving average price of $75.02 and a 200-day moving average price of $80.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49.

Limbach (NASDAQ:LMB - Get Free Report) last posted its earnings results 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 net margin of 4.42% and a return on equity of 23.22%. The business had revenue of $173.46 million during the quarter, compared to analysts' expectations of $177.33 million. As a group, analysts expect that Limbach Holdings, Inc. will post 4.63 earnings per share for the current year.

About Limbach

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