Limbach (NASDAQ:LMB) Shares Up 3.6% - Should You Buy?

Key Points

• Limbach Holdings, Inc. shares rose 3.6% to $114.07, despite a significant drop in trading volume, dropping 72% from the average.
• Research firms have a consensus rating of "Buy" with price targets ranging from $125.00 to $156.00, indicating strong bullish sentiment for the stock.
• In its recent earnings report, Limbach exceeded EPS estimates ($0.93 vs $0.81), with a 16.4% year-over-year revenue increase, despite slightly missing revenue expectations.

Shares of Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) traded up 3.6% on Thursday . The stock traded as high as $112.75 and last traded at $114.07. 64,053 shares were traded during trading, a decline of 72% from the average session volume of 226,126 shares. The stock had previously closed at $110.14.

Analysts Set New Price Targets

LMB has been the topic of a number of research analyst reports. Wall Street Zen upgraded Limbach from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus set a $146.00 target price on Limbach in a research note on Wednesday, August 6th. Roth Capital reissued a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Finally, Lake Street Capital upped their price objective on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $127.33.

Limbach Stock Up 3.0%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 1.69. The business's 50 day moving average is $135.50 and its 200-day moving average is $108.24. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. The firm had revenue of $142.24 million during the quarter, compared to analysts' expectations of $144.21 million. Limbach had a net margin of 6.38% and a return on equity of 29.38%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. Equities analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $137.49, for a total value of $274,980.00. Following the sale, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. The trade was a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LMB. Vanguard Group Inc. lifted its position in shares of Limbach by 4.9% in the first quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company's stock valued at $47,220,000 after acquiring an additional 29,685 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Limbach by 1,192.1% in the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company's stock valued at $57,606,000 after buying an additional 379,357 shares in the last quarter. Invesco Ltd. grew its stake in Limbach by 2,041.6% during the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock worth $56,124,000 after purchasing an additional 381,897 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Limbach by 0.4% during the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company's stock worth $32,025,000 after buying an additional 1,546 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Limbach by 2.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company's stock valued at $21,583,000 after purchasing an additional 7,771 shares during the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

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.

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