Limbach (NASDAQ:LMB) Shares Up 4.8% - Still a Buy?

Key Points

• Limbach Holdings, Inc. shares increased by 4.8% to a last traded price of $130.98, despite a significant drop in trading volume.
• Analysts maintain a consensus of "Moderate Buy" for Limbach, with target prices ranging as high as $163.00 from Stifel Nicolaus.
• The company reported strong quarterly earnings, with an EPS of $1.12, exceeding estimates of $0.30, marking an 11.9% revenue growth year-over-year.
• Insider Jay Sharp sold 2,000 shares recently, but insiders collectively own 9.70% of Limbach, indicating continued confidence in the company.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s share price traded up 4.8% during trading on Friday . The stock traded as high as $132.93 and last traded at $130.98. 21,831 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 220,059 shares. The stock had previously closed at $124.99.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Lake Street Capital boosted their price target on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Roth Capital reissued a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Stifel Nicolaus upped their price target on shares of Limbach from $151.00 to $163.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Limbach from a "buy" rating to a "strong-buy" rating in a report on Saturday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $133.00.

Limbach Trading Up 1.3%

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.58 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 2.54 and a beta of 1.19. The firm's 50-day simple moving average is $136.73 and its 200-day simple moving average is $106.00.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $133.11 million during the quarter, compared to the consensus estimate of $121.06 million. During the same period in the previous year, the firm posted $0.69 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the sale, the insider owned 69,877 shares in the company, valued at approximately $9,607,388.73. This 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 can be accessed through the SEC website. 9.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Limbach

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Limbach in the 4th quarter worth $2,230,000. Teacher Retirement System of Texas lifted its stake in Limbach by 5.2% in the fourth quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company's stock worth $295,000 after acquiring an additional 172 shares during the period. Sei Investments Co. grew its holdings in Limbach by 585.9% during the 4th quarter. Sei Investments Co. now owns 27,292 shares of the construction company's stock worth $2,335,000 after acquiring an additional 23,313 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Limbach during the 4th quarter valued at about $154,000. Finally, LPL Financial LLC raised its holdings in shares of Limbach by 11.6% in the 4th quarter. LPL Financial LLC now owns 6,197 shares of the construction company's stock valued at $530,000 after purchasing an additional 644 shares in the last quarter. 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.