Limbach (NASDAQ:LMB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Limbach (NASDAQ:LMB) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Separately, Roth Mkm lifted their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Limbach Stock Performance

NASDAQ LMB opened at $96.94 on Wednesday. The firm’s 50 day simple moving average is $76.40 and its 200 day simple moving average is $63.43. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 44.06, a P/E/G ratio of 3.22 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. Limbach has a 1 year low of $31.18 and a 1 year high of $97.40.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Limbach will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $520,432.00. Following the sale, the director now owns 223,272 shares of the company’s stock, valued at approximately $13,204,306.08. The trade was a 0.00 % 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. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 in the last quarter. Insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

A number of hedge funds have recently made changes to their positions in LMB. Harbor Capital Advisors Inc. increased its stake in shares of Limbach by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after buying an additional 162 shares during the period. SummerHaven Investment Management LLC increased its position in Limbach by 0.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock valued at $1,649,000 after acquiring an additional 261 shares during the period. Meeder Asset Management Inc. raised its stake in shares of Limbach by 7.7% during the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after acquiring an additional 292 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of Limbach during the third quarter worth $25,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Limbach by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock worth $3,560,000 after purchasing an additional 382 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

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.