StockNews.com Upgrades Limbach (NASDAQ:LMB) to Buy

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

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

Limbach Stock Up 3.4 %

Limbach stock traded up $3.19 during mid-day trading on Wednesday, hitting $96.94. The company’s stock had a trading volume of 154,416 shares, compared to its average volume of 136,615. The firm’s 50 day moving average is $76.40 and its 200 day moving average is $63.28. The company has a market cap of $1.09 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.63. Limbach has a 52-week low of $31.18 and a 52-week high of $97.40.

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

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of Limbach stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $64.02, for a total transaction of $320,100.00. Following the sale, the director now owns 190,000 shares of the company’s stock, valued at approximately $12,163,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 40,072 shares of company stock valued at $2,418,821 in the last 90 days. 10.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. American Capital Advisory LLC acquired a new position in Limbach during the third quarter worth $25,000. nVerses Capital LLC acquired a new position in Limbach during the third quarter worth $53,000. Harbor Capital Advisors Inc. raised its stake 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 in the last quarter. Quest Partners LLC acquired a new position in Limbach during the third quarter worth $207,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Limbach during the second quarter worth $223,000. 55.85% of the stock is currently 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.