Limbach (NASDAQ:LMB) Lowered to Hold Rating by StockNews.com

Limbach (NASDAQ:LMB) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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

Limbach Stock Up 3.7 %

Shares of NASDAQ LMB opened at $92.09 on Thursday. The company’s 50 day moving average price is $79.36 and its 200-day moving average price is $64.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. Limbach has a 52-week low of $35.24 and a 52-week high of $98.36. The company has a market capitalization of $1.04 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.95 and a beta of 0.97.

Limbach (NASDAQ:LMB) last released its earnings results 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. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. Limbach’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts forecast that Limbach will post 2.58 earnings per share for the current year.

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $61.86, for a total transaction of $433,020.00. Following the completion of the sale, the director now directly owns 203,000 shares of the company’s stock, valued at $12,557,580. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 19,272 shares of company stock valued at $1,188,349 in the last 90 days. 10.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Limbach

Hedge funds have recently added to or reduced their stakes in the stock. American Capital Advisory LLC bought a new position in Limbach in the 3rd quarter valued at $25,000. nVerses Capital LLC bought a new position in Limbach during the third quarter valued at about $53,000. 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 worth $207,000 after buying an additional 162 shares during the last quarter. Quest Partners LLC bought a new stake in Limbach in the third quarter worth about $207,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Limbach in the second quarter valued at about $223,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Company Profile

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.