Limbach (LMB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Limbach (NASDAQ:LMB) from a hold rating to a strong-buy rating in a research report released on Friday morning. The firm currently has $14.00 price objective on the construction company’s stock.

According to Zacks, “Limbach Holdings, Inc. provides building systems. The Company engineers, constructs and services the mechanical, plumbing, air conditioning, heating, building automation, electrical and control systems. Limbach Holdings, Inc. is headquartered in Pittsburgh, Pennsylvania. “

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Shares of NASDAQ:LMB traded up $0.22 on Friday, hitting $13.30. The company had a trading volume of 32,014 shares, compared to its average volume of 23,240. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.64. Limbach has a 52-week low of $11.14 and a 52-week high of $15.22. The company has a market capitalization of $98.65, a P/E ratio of 60.45, a P/E/G ratio of 0.69 and a beta of 0.71.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Monday, April 2nd. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.06). Limbach had a negative net margin of 0.65% and a negative return on equity of 1.14%. The company had revenue of $131.41 million during the quarter, compared to analysts’ expectations of $118.00 million. sell-side analysts anticipate that Limbach will post 1.09 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new position in Limbach during the fourth quarter worth about $112,000. Steward Partners Investment Advisory LLC lifted its position in Limbach by 108.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,846 shares of the construction company’s stock worth $122,000 after buying an additional 4,604 shares during the period. Finally, Arbor Wealth Management LLC purchased a new position in Limbach during the third quarter worth about $220,000. Hedge funds and other institutional investors own 27.95% of the company’s stock.

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About Limbach

Limbach Holdings, Inc provides commercial specialty contractor services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of HVAC (heating, ventilation, and air-conditioning), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades.

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