Limbach (NASDAQ:LMB) Shares Climb 12.9% on Analyst Upgrade

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) shot up 12.9% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $55.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Limbach traded as high as $58.04 and last traded at $56.3490. Approximately 16,273 shares changed hands during trading, a decline of 94% from the average session volume of 268,366 shares. The stock had previously closed at $49.92.

LMB has been the topic of a number of other reports. Royal Bank Of Canada set a $50.00 price target on Limbach in a research note on Friday, August 21st. Wall Street Zen raised shares of Limbach from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Tuesday. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Limbach from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.75.

Insider Buying and Selling

In related news, Director Joshua Horowitz bought 4,008 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of $50.71 per share, with a total value of $203,245.68. Following the purchase, the director owned 171,208 shares of the company’s stock, valued at approximately $8,681,957.68. This trade represents a 2.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 7,820 shares of company stock valued at $391,002. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Limbach

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Limbach during the 2nd quarter worth approximately $75,410,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Limbach during the second quarter valued at approximately $24,944,381. Polar Asset Management Partners Inc. bought a new stake in shares of Limbach during the second quarter valued at approximately $10,156,000. WCM Investment Management LLC bought a new stake in shares of Limbach during the first quarter valued at approximately $6,067,000. Finally, Grandeur Peak Global Advisors LLC purchased a new stake in Limbach in the second quarter worth $3,620,000. 55.85% of the stock is owned by institutional investors.

Limbach Stock Performance

The company has a market capitalization of $637.66 million, a PE ratio of 20.88 and a beta of 1.37. The company has a 50 day moving average of $49.66 and a two-hundred day moving average of $70.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 3rd. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. Limbach had a return on equity of 23.22% and a net margin of 4.42%. The business had revenue of $230.46 million during the quarter, compared to analyst estimates of $218.59 million. As a group, equities research analysts predict that Limbach Holdings, Inc. will post 4.34 earnings per share for the current year.

About Limbach

Limbach Holdings, Inc (NASDAQ:LMB) provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.

Limbach’s services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.