Limbach (NASDAQ:LMB) Shares Up 4.8% - Should You 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 mid-day trading on Friday . The stock traded as high as $132.93 and last traded at $130.98. 21,831 shares traded hands during trading, a decline of 90% from the average session volume of 220,059 shares. The stock had previously closed at $124.99.

Wall Street Analysts Forecast Growth

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

Limbach Trading Up 1.8%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. The business has a fifty day simple moving average of $136.90 and a 200 day simple moving average of $106.27. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 49.36, a price-to-earnings-growth ratio of 2.54 and a beta of 1.19.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. As a group, research analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Insider Activity 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 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 of the company's stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.20% of the company's stock.

Institutional Trading of Limbach

A number of hedge funds have recently made changes to their positions in the company. Harbour Investments Inc. bought a new position in shares of Limbach during the second quarter worth about $115,000. TD Asset Management Inc purchased a new position in Limbach in the second quarter worth $331,000. Nadler Financial Group Inc. purchased a new position in Limbach in the second quarter worth $240,000. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $5,674,000 after purchasing an additional 8,710 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in Limbach by 16.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 2,100 shares of the construction company's stock worth $294,000 after acquiring an additional 300 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

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.