Limbach (NASDAQ:LMB) Upgraded at StockNews.com

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

Separately, Roth Mkm upped their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday.

Limbach Stock Up 20.6 %

LMB stock traded up $16.00 during midday trading on Wednesday, hitting $93.79. The company’s stock had a trading volume of 456,581 shares, compared to its average volume of 118,259. The company has a market cap of $1.06 billion, a PE ratio of 42.83, a P/E/G ratio of 2.52 and a beta of 0.97. Limbach has a 12 month low of $29.55 and a 12 month high of $95.26. 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’s 50-day moving average is $75.17 and its 200-day moving average is $62.67.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The business had revenue of $133.90 million for the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities research analysts forecast that Limbach will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 12,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $59.17, for a total value of $710,040.00. Following the sale, the director now directly owns 237,672 shares of the company’s stock, valued at $14,063,052.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 40,072 shares of company stock valued at $2,418,821. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its holdings in Limbach by 6.3% during 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 holdings in Limbach by 0.9% during the second quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock valued at $1,649,000 after buying an additional 261 shares during the period. Meeder Asset Management Inc. boosted its stake in Limbach by 7.7% in 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 in the last quarter. American Capital Advisory LLC acquired a new stake in Limbach in the third quarter valued at approximately $25,000. Finally, Empowered Funds LLC boosted its stake in Limbach by 4.9% in the third quarter. Empowered Funds LLC now owns 8,618 shares of the construction company’s stock valued at $653,000 after acquiring an additional 402 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

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.