Limbach (LMB) Upgraded to “Buy” at Roth Capital

Roth Capital upgraded shares of Limbach (NASDAQ:LMB) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. Roth Capital currently has $10.00 target price on the construction company’s stock, up from their previous target price of $7.00.

Separately, Zacks Investment Research raised shares of Limbach from a strong sell rating to a hold rating in a research report on Thursday, January 24th.

Limbach stock opened at $9.04 on Wednesday. The stock has a market cap of $65.50 million, a price-to-earnings ratio of -17.38, a P/E/G ratio of 0.78 and a beta of 1.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.99 and a current ratio of 0.99. Limbach has a 52 week low of $3.56 and a 52 week high of $13.24.

In related news, CEO Charles A. Bacon III bought 10,610 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The shares were acquired at an average price of $5.78 per share, with a total value of $61,325.80. Following the completion of the transaction, the chief executive officer now owns 273,535 shares of the company’s stock, valued at approximately $1,581,032.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles A. Bacon III bought 14,390 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were bought at an average cost of $5.67 per share, for a total transaction of $81,591.30. Following the transaction, the insider now directly owns 280,535 shares of the company’s stock, valued at approximately $1,590,633.45. The disclosure for this purchase can be found here. Insiders own 47.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Limbach by 70.0% during the fourth quarter. BlackRock Inc. now owns 22,989 shares of the construction company’s stock worth $85,000 after acquiring an additional 9,470 shares during the period. Alambic Investment Management L.P. bought a new stake in shares of Limbach in the 4th quarter valued at about $190,000. AltraVue Capital LLC acquired a new position in shares of Limbach in the 4th quarter valued at approximately $1,771,000. Finally, Dimensional Fund Advisors LP boosted its position in Limbach by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,440 shares of the construction company’s stock worth $1,923,000 after acquiring an additional 12,089 shares during the last quarter. 33.48% of the stock is currently owned by institutional investors and hedge funds.

Limbach Company Profile

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

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