Limbach (NASDAQ:LMB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Limbach (NASDAQ:LMB) from a buy rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

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. “

A number of other analysts have also issued reports on LMB. Roth Capital upgraded Limbach from a neutral rating to a buy rating and boosted their price objective for the company from $7.00 to $10.00 in a research note on Wednesday, April 17th. TheStreet upgraded Limbach from a d+ rating to a c rating in a research note on Wednesday, May 29th.

LMB stock opened at $8.40 on Friday. The stock has a fifty day simple moving average of $8.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.25 and a current ratio of 1.25. Limbach has a 1-year low of $3.56 and a 1-year high of $12.18. The stock has a market capitalization of $64.20 million, a PE ratio of -16.15, a P/E/G ratio of 0.47 and a beta of 1.48.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Wednesday, May 15th. The construction company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.37. The business had revenue of $133.95 million for the quarter, compared to analysts’ expectations of $129.00 million. Limbach had a return on equity of 5.95% and a net margin of 0.49%. As a group, equities research analysts forecast that Limbach will post 1.07 earnings per share for the current year.

In related news, insider 1347 Investors Llc sold 545,785 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $10.63, for a total transaction of $5,801,694.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 1,104,547 shares of company stock worth $11,244,790. 41.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of LMB. Hillsdale Investment Management Inc. purchased a new position in Limbach during the second quarter worth about $2,196,000. Renaissance Technologies LLC purchased a new position in Limbach during the second quarter worth about $1,559,000. Wells Fargo & Company MN purchased a new position in Limbach during the second quarter worth about $957,000. BlackRock Inc. grew its position in Limbach by 250.3% during the second quarter. BlackRock Inc. now owns 86,291 shares of the construction company’s stock worth $784,000 after buying an additional 61,656 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Limbach during the second quarter worth about $194,000. Institutional investors and hedge funds own 27.69% of the company’s stock.

About Limbach

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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