Limbach (NASDAQ:LMB) Trading Down 5% - Here's What Happened

Key Points

• Limbach Holdings, Inc. shares fell 5% during mid-day trading, dipping to a low of $93.30 from a previous close of $97.12, with trading volume down 72% compared to its average.
• Analysts recently upgraded Limbach's rating, with Lake Street Capital increasing the target price from $125.00 to $156.00, contributing to a consensus rating of "Buy" and a target price of $127.33.
• In its latest earnings report, Limbach reported an EPS of $0.93, exceeding estimates and marking a 16.4% revenue increase year-over-year, albeit falling short of the revenue expectations.

Shares of Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) dropped 5% during mid-day trading on Wednesday . The company traded as low as $93.30 and last traded at $92.26. Approximately 63,289 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 223,484 shares. The stock had previously closed at $97.12.

Analyst Upgrades and Downgrades

LMB has been the subject of a number of recent research reports. Wall Street Zen upgraded Limbach from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. Lake Street Capital increased their target price on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Stifel Nicolaus set a $146.00 target price on Limbach in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $127.33.

Limbach Trading Down 7.7%

The business has a 50 day simple moving average of $113.73 and a two-hundred day simple moving average of $113.73. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 30.82 and a beta of 1.06.

Limbach (NASDAQ:LMB - Get Free Report) last released its earnings results on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The company had revenue of $142.24 million for the quarter, compared to the consensus estimate of $144.21 million. During the same quarter last year, the business posted $0.73 EPS. Limbach's quarterly revenue was up 16.4% compared to the same quarter last year. Limbach has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Limbach by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,009 shares of the construction company's stock valued at $2,483,000 after buying an additional 3,034 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Limbach by 16,413.0% in the 1st quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company's stock valued at $283,000 after buying an additional 3,775 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Limbach by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 13,873 shares of the construction company's stock worth $1,033,000 after purchasing an additional 963 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Limbach by 259.3% in the 1st quarter. Teacher Retirement System of Texas now owns 12,408 shares of the construction company's stock worth $924,000 after purchasing an additional 8,955 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Limbach by 81.7% in the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company's stock worth $12,415,000 after purchasing an additional 74,986 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.

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