Limbach (NASDAQ:LMB) Shares Gap Up Following Analyst Upgrade

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price gapped up prior to trading on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock had previously closed at $79.07, but opened at $83.21. Limbach shares last traded at $81.59, with a volume of 6,355 shares.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus cut their price objective on shares of Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Insider Transactions at Limbach

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

Hedge Funds Weigh In On Limbach

Institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in Limbach in the second quarter valued at $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Limbach in the 3rd quarter valued at about $54,000. Comerica Bank lifted its stake 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. AdvisorShares Investments LLC acquired a new stake in shares of Limbach in the second quarter valued at about $114,000. Finally, Harbour Investments Inc. purchased a new stake in Limbach during the second quarter worth about $115,000. 55.85% of the stock is owned by institutional investors and hedge funds.

Limbach Trading Up 0.2%

The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average is $77.01 and its 200 day moving average is $102.25. The stock has a market cap of $893.86 million, a PE ratio of 25.28 and a beta of 1.26.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, November 4th. The construction company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year. As a group, analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

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

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.