Limbach (NASDAQ:LMB) Upgraded to “Buy” at StockNews.com

Limbach (NASDAQ:LMB) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Roth Mkm raised their target price on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday.

Limbach Stock Performance

Shares of NASDAQ:LMB traded up $16.00 on Wednesday, hitting $93.79. 456,581 shares of the company were exchanged, compared to its average volume of 118,259. Limbach has a 1-year low of $29.55 and a 1-year high of $95.26. The stock’s 50 day moving average price is $75.17 and its 200 day moving average price is $62.67. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.06 billion, a P/E ratio of 42.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Limbach will post 2.43 EPS for the current year.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of Limbach stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total value of $520,432.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 40,072 shares of company stock valued at $2,418,821. Corporate insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

A number of institutional investors and hedge funds have recently modified their holdings of LMB. Empowered Funds LLC boosted its position in Limbach by 4.9% during the third quarter. Empowered Funds LLC now owns 8,618 shares of the construction company’s stock worth $653,000 after acquiring an additional 402 shares during the last quarter. Royce & Associates LP boosted its position in Limbach by 35.3% during the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after acquiring an additional 65,082 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Limbach during the third quarter worth about $568,000. American Capital Advisory LLC acquired a new position in Limbach during the third quarter worth about $25,000. Finally, Harbor Capital Advisors Inc. boosted its position in Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other 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.