Limbach (NASDAQ:LMB) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Limbach (NASDAQ:LMB) from a hold rating to a buy rating in a report issued on Wednesday morning.

Separately, Roth Mkm raised their price objective on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday.

Limbach Stock Performance

Limbach stock traded down $0.30 during midday trading on Wednesday, reaching $93.49. 3,566 shares of the company traded hands, compared to its average volume of 163,145. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63. Limbach has a 12 month low of $29.55 and a 12 month high of $95.26. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 42.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The business has a 50 day moving average of $75.17 and a two-hundred day moving average of $62.67.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. Limbach’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, research analysts predict that Limbach will post 2.43 earnings per share for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of Limbach stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $520,432.00. Following the transaction, the director now owns 223,272 shares of the company’s stock, valued at $13,204,306.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 40,072 shares of company stock worth $2,418,821. 10.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its position in shares of Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after purchasing an additional 162 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Limbach by 0.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock valued at $1,649,000 after buying an additional 261 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Limbach by 7.7% during the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after buying an additional 292 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of Limbach in the third quarter worth $25,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Limbach by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock worth $3,560,000 after acquiring an additional 382 shares during the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

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.