Limbach (NASDAQ:LMB) Issues Quarterly Earnings Results

Limbach (NASDAQ:LMB) issued its quarterly earnings data on Tuesday. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16, FiscalAI reports. The company had revenue of $230.46 million for the quarter, compared to analyst estimates of $218.59 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%.

Limbach Stock Performance

Shares of Limbach stock traded up $2.99 on Tuesday, hitting $49.92. 270,194 shares of the company’s stock were exchanged, compared to its average volume of 266,314. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $595.55 million, a PE ratio of 19.97 and a beta of 1.33. Limbach has a 1 year low of $40.74 and a 1 year high of $114.95. The company has a 50-day simple moving average of $48.69 and a 200-day simple moving average of $71.33.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz bought 4,008 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought 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 $8,681,957.68. This trade represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 7,820 shares of company stock worth $391,002. 7.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on LMB. Stifel Nicolaus dropped their price objective on shares of Limbach from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Royal Bank Of Canada set a $50.00 price target on Limbach in a research report on Friday, August 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. JPMorgan Chase & Co. downgraded Limbach from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $60.00 to $50.00 in a research note on Friday, August 21st. Finally, Wall Street Zen raised Limbach from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.50.

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.