Limbach (NASDAQ:LMB) Stock Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Limbach shares crossed above their 50-day moving average, reaching $49.75 and last trading at $48.32, while remaining well below the 200-day average of $72.08.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and a consensus price target of $67.50, with two Buy, two Hold, and one Sell rating.
• The company’s latest quarterly results fell short of expectations, reporting $0.64 in earnings per share versus a $0.93 consensus estimate and revenue of $173.46 million versus $177.33 million expected; insiders bought 7,820 shares over the past 90 days.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $48.11 and traded as high as $49.75. Limbach shares last traded at $48.32, with a volume of 118,483 shares.

Analysts Set New Price Targets

LMB has been the subject of several research reports. Stifel Nicolaus lowered their target price on Limbach from $86.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Lake Street Capital raised their price target on Limbach from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Zacks Research upgraded Limbach from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. Royal Bank Of Canada set a $50.00 price objective on Limbach in a report on Friday, August 21st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Limbach in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.50.

Limbach Price Performance

The firm has a 50-day simple moving average of $48.11 and a 200-day simple moving average of $72.08. The firm has a market cap of $576.22 million, a P/E ratio of 19.33 and a beta of 1.33. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18.

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

Insider Transactions at Limbach

In other news, Director Joshua Horowitz bought 4,008 shares of Limbach stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the acquisition, the director owned 171,208 shares of the company's stock, valued at $8,681,957.68. This trade represents a 2.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 7,820 shares of company stock valued at $391,002 in the last 90 days. 7.00% of the stock is owned by insiders.

Institutional Trading of Limbach

A number of institutional investors have recently modified their holdings of LMB. Janney Montgomery Scott LLC grew its stake in Limbach by 13.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,288 shares of the construction company's stock valued at $257,000 after acquiring an additional 394 shares during the period. Parkside Financial Bank & Trust purchased a new stake in Limbach in the 2nd quarter worth $36,000. Cetera Investment Advisers raised its position in Limbach by 8.8% during the first quarter. Cetera Investment Advisers now owns 5,833 shares of the construction company's stock worth $455,000 after acquiring an additional 473 shares during the period. Keebeck Wealth Management raised its position in Limbach by 15.7% during the first quarter. Keebeck Wealth Management now owns 3,677 shares of the construction company's stock worth $287,000 after acquiring an additional 498 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Limbach during the third quarter worth $25,000. 55.85% of the stock is currently owned by institutional investors.

Limbach Company Profile

Limbach Holdings, Inc NASDAQ: LMB provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.

Limbach's services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.

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