Limbach Holdings, Inc. (NASDAQ:LMB) Receives Average Rating of “Moderate Buy” from Analysts

Limbach Holdings, Inc. (NASDAQ:LMB) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $133.50.

Several research analysts recently commented on LMB shares. Stifel Nicolaus reduced their price objective on Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen cut shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th.

Insider Activity

In other Limbach news, insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the sale, the insider directly owned 64,979 shares of the company’s stock, valued at $5,067,062.42. This trade represents a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its holdings in Limbach by 24.0% in the 1st 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 last quarter. Caxton Associates LLP raised its position in shares of Limbach by 4.9% during the 3rd quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after buying an additional 168 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock valued at $537,000 after acquiring an additional 204 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Limbach in the second quarter valued at approximately $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Limbach by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock worth $451,000 after acquiring an additional 241 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Stock Down 2.5%

LMB opened at $84.49 on Friday. The company has a market cap of $982.37 million, a PE ratio of 27.79 and a beta of 1.26. Limbach has a twelve month low of $63.02 and a twelve month high of $154.05. The company has a 50-day moving average price of $76.12 and a 200 day moving average price of $99.48. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The firm had revenue of $184.58 million for the quarter, compared to analysts’ expectations of $184.48 million. During the same quarter last year, the firm posted $0.62 earnings per share. Limbach’s quarterly revenue was up 37.8% on a year-over-year basis. Sell-side analysts expect that Limbach will post 2.54 earnings per share for the current fiscal year.

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

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.