Limbach (NASDAQ:LMB) Hits New 1-Year Low on Analyst Downgrade

Limbach Holdings, Inc. (NASDAQ:LMB) hit a new 52-week low on Monday after JPMorgan Chase & Co. downgraded the stock from a neutral rating to an underweight rating. JPMorgan Chase & Co. now has a $50.00 price target on the stock, down from their previous price target of $60.00. Limbach traded as low as $41.59 and last traded at $41.71, with a volume of 427908 shares. The stock had previously closed at $42.90.

Several other analysts have also recently commented on the stock. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Stifel Nicolaus dropped their price objective on shares of Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada set a $50.00 price objective on Limbach in a research report on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Limbach currently has a consensus rating of “Reduce” and a consensus price target of $62.00.

Insiders Place Their Bets

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the transaction, the executive vice president owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Institutional Trading of Limbach

Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP boosted its stake in Limbach by 37.8% during the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after acquiring an additional 273,818 shares during the last quarter. BlackRock Inc. bought a new stake in Limbach in the second quarter valued at approximately $75,410,000. California State Teachers Retirement System raised its holdings in Limbach by 8,693.2% in the second quarter. California State Teachers Retirement System now owns 901,131 shares of the construction company’s stock worth $69,387,000 after purchasing an additional 890,883 shares during the period. Thrivent Financial for Lutherans raised its holdings in Limbach by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock worth $61,550,000 after purchasing an additional 55,511 shares during the period. Finally, First Trust Advisors LP raised its holdings in Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after purchasing an additional 117,035 shares during the period. 55.85% of the stock is owned by institutional investors.

Limbach Trading Down 2.8%

The business’s 50-day moving average price is $67.71 and its two-hundred day moving average price is $78.09. The company has a market capitalization of $497.60 million, a P/E ratio of 11.50 and a beta of 1.45. 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 released its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). The firm had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. As a group, analysts forecast that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.

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.