Limbach Holdings, Inc. (NASDAQ:LMB) Receives Consensus Rating of “Hold” from Brokerages

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have earned a consensus rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $133.50.

A number of brokerages have commented on LMB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a research note on Wednesday, December 10th. Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus lowered their price target on shares of Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th.

Limbach Stock Performance

Limbach stock opened at $81.33 on Wednesday. The firm has a fifty day simple moving average of $81.93 and a two-hundred day simple moving average of $108.52. 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 has a twelve month low of $63.02 and a twelve month high of $154.05. The company has a market capitalization of $945.87 million, a PE ratio of 26.75 and a beta of 1.26.

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

Limbach declared that its board has approved a share repurchase plan on Monday, December 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction that occurred 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 directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

Hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in Limbach during the 2nd quarter valued at approximately $32,000. AlphaQuest LLC bought a new stake in Limbach in the first quarter worth $53,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Limbach in the third quarter worth $54,000. Comerica Bank increased its holdings in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in shares of Limbach during the second quarter valued at $114,000. Institutional investors own 55.85% of the company’s stock.

About Limbach

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.