Limbach (NASDAQ:LMB) Shares Down 4.2% - Here's What Happened

Key Points

• Limbach shares fell 4.2% to about $50.36 in midday trading, while volume dropped 85% below the average daily level.
• Analyst sentiment is mixed: Limbach has a consensus “Hold” rating and an average price target of $70.25, with recent targets ranging from $50 to $95.
• The company missed quarterly expectations, reporting $0.64 in EPS versus a $0.93 estimate and revenue of $173.46 million versus $177.33 million expected; meanwhile, insiders bought approximately $391,000 of shares over the past 90 days.

Shares of Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) were down 4.2% on Thursday . The company traded as low as $50.58 and last traded at $50.3590. 39,941 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 273,995 shares. The stock had previously closed at $52.56.

Analyst Ratings Changes

Several research firms have recently issued reports on LMB. Royal Bank Of Canada set a $50.00 price target on Limbach in a research note on Friday, August 21st. Lake Street Capital raised their target price on shares of Limbach from $90.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Zacks Research cut shares of Limbach from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Stifel Nicolaus reduced their price target on shares of Limbach from $107.00 to $86.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. lowered shares of Limbach from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $60.00 to $50.00 in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Limbach currently has a consensus rating of "Hold" and an average price target of $70.25.

Limbach Stock Performance

The stock's 50-day moving average is $56.80 and its 200-day moving average is $72.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $590.00 million, a price-to-earnings ratio of 19.91 and a beta of 1.42.

Limbach (NASDAQ:LMB - Get Free Report) last released its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The company had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Analysts anticipate that Limbach Holdings, Inc. will post 4.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joshua Horowitz purchased 4,008 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of $50.71 per share, with a total value of $203,245.68. Following the purchase, the director directly owned 171,208 shares of the company's stock, valued at approximately $8,681,957.68. This represents a 2.40% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 7,820 shares of company stock worth $391,002. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Limbach

Institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in Limbach in the second quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Limbach by 51.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company's stock valued at $66,000 after buying an additional 286 shares during the period. State of Wyoming acquired a new position in Limbach during the second quarter worth about $71,000. Fifth Third Bancorp bought a new stake in Limbach in the first quarter worth about $85,000. Finally, Palouse Capital Management Inc. bought a new stake in Limbach in the second quarter worth about $154,000. 55.85% of the stock is owned by institutional investors and hedge funds.

About Limbach

Limbach Holdings, Inc NASDAQ: LMB provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.

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