Shares of Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $68.92, but opened at $72.17. Limbach shares last traded at $74.36, with a volume of 18,665 shares traded.
The construction company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.31. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business had revenue of $143.70 million during the quarter, compared to analyst estimates of $149.37 million. During the same period in the previous year, the firm earned $0.68 EPS. Limbach’s quarterly revenue was up .7% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on LMB. StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus reduced their price objective on shares of Limbach from $117.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Lake Street Capital upped their target price on Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th.
Institutional Investors Weigh In On Limbach
Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Limbach by 21.7% during the 3rd quarter. FMR LLC now owns 40,543 shares of the construction company’s stock worth $3,072,000 after buying an additional 7,239 shares during the last quarter. Virtu Financial LLC bought a new position in Limbach in the 3rd quarter valued at about $487,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Limbach during the third quarter worth approximately $643,000. Barclays PLC boosted its holdings in shares of Limbach by 385.4% during the third quarter. Barclays PLC now owns 16,879 shares of the construction company’s stock worth $1,278,000 after acquiring an additional 13,402 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Limbach in the third quarter valued at approximately $568,000. Institutional investors own 55.85% of the company’s stock.
Limbach Stock Performance
The company has a market cap of $898.35 million, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. The stock has a 50 day moving average price of $90.37 and a two-hundred day moving average price of $85.43. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.
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.
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