Limbach (NASDAQ:LMB) Stock Price Up 9.2% – Time to Buy?

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) were up 9.2% on Monday . The stock traded as high as $77.79 and last traded at $76.9650. Approximately 17,967 shares traded hands during trading, a decline of 90% from the average daily volume of 176,294 shares. The stock had previously closed at $70.48.

Wall Street Analysts Forecast Growth

LMB has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus dropped their target price on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Limbach in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Limbach presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Limbach Trading Up 7.7%

The company’s 50-day moving average price is $85.51 and its 200-day moving average price is $85.76. The firm has a market capitalization of $886.57 million, a PE ratio of 23.43 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 1.44.

Limbach (NASDAQ:LMB) last posted its earnings results on Monday, March 2nd. The construction company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The firm had revenue of $186.87 million during the quarter, compared to analysts’ expectations of $197.56 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. The firm’s revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its board has approved a stock repurchase program on Monday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Jay Sharp sold 2,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the sale, the executive vice president owned 79,027 shares in the company, valued at $6,321,369.73. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jayme L. Brooks sold 9,910 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total transaction of $778,529.60. Following the transaction, the chief financial officer directly owned 140,750 shares in the company, valued at $11,057,320. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Limbach

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its position in Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after acquiring an additional 130 shares during the period. Comerica Bank increased its holdings in shares of Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the period. Royal Bank of Canada raised its stake in shares of Limbach by 34.5% during the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after purchasing an additional 371 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Limbach during the fourth quarter worth $150,000. Finally, SG Americas Securities LLC grew its position in Limbach by 85.0% in the 3rd quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after buying an additional 749 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.