Limbach (NASDAQ:LMB) Upgraded by StockNews.com to “Buy” Rating

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

Separately, Roth Mkm increased their price target on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday.

Limbach Trading Down 0.3 %

Limbach stock traded down $0.30 during trading hours on Wednesday, reaching $93.49. The stock had a trading volume of 3,566 shares, 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. The company has a fifty day simple moving average of $75.17 and a 200-day simple moving average of $62.67. The stock has a market cap of $1.05 billion, a PE ratio of 42.83, a PEG ratio of 2.52 and a beta of 0.97. Limbach has a 52 week low of $29.55 and a 52 week high of $95.26.

Limbach (NASDAQ:LMB) last announced its earnings results 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 the consensus estimate of $129.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. Analysts forecast that Limbach will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joshua Horowitz sold 8,800 shares of Limbach stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $520,432.00. Following the completion of the transaction, the director now directly owns 223,272 shares of the company’s stock, valued at $13,204,306.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 40,072 shares of company stock worth $2,418,821. 10.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its position in shares of Limbach by 6.3% in the 3rd 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 during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Limbach by 0.9% during the second 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 during the last quarter. Meeder Asset Management Inc. increased 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 acquiring an additional 292 shares in the last quarter. American Capital Advisory LLC bought a new position in Limbach in the 3rd quarter valued at approximately $25,000. Finally, Thrivent Financial for Lutherans lifted its position in Limbach by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock valued at $3,560,000 after acquiring an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

About Limbach

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.