Limbach Holdings, Inc. (NASDAQ:LMB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $70.25.

A number of equities research analysts have recently issued reports on LMB shares. Lake Street Capital boosted their price target on shares of Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Stifel Nicolaus cut their target price on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered Limbach from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $60.00 to $50.00 in a report on Friday, August 21st. Royal Bank Of Canada set a $50.00 price target on Limbach in a research report on Friday, August 21st. Finally, Zacks Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th.

Limbach Stock Down 0.6%

Shares of Limbach stock opened at $49.54 on Wednesday. The stock’s fifty day moving average is $60.06 and its 200-day moving average is $74.72. The firm has a market capitalization of $591.01 million, a PE ratio of 19.82 and a beta of 1.42. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. Limbach has a 12-month low of $40.74 and a 12-month high of $114.95.

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

Insider Activity

In related news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Limbach

A number of institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its position in Limbach by 7.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock worth $61,550,000 after purchasing an additional 55,511 shares during the last quarter. Royce & Associates LP increased its holdings in Limbach by 83.7% in the fourth quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock worth $26,131,000 after buying an additional 152,956 shares during the last quarter. BlackRock Inc. bought a new position in Limbach during the second quarter valued at approximately $75,410,000. UBS Group AG lifted its stake in Limbach by 23.7% in the fourth quarter. UBS Group AG now owns 60,874 shares of the construction company’s stock valued at $4,739,000 after acquiring an additional 11,644 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in Limbach by 20.3% in the first quarter. Granite Investment Partners LLC now owns 110,269 shares of the construction company’s stock valued at $8,606,000 after acquiring an additional 18,572 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

About Limbach

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.