Limbach (NASDAQ:LMB) Shares Gap Up Following Strong Earnings

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. 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 trading hands.

The construction company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. The company had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $149.37 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share.

Analyst Ratings Changes

Several equities analysts have weighed in on LMB shares. Stifel Nicolaus dropped their price objective on Limbach from $117.00 to $102.00 and set a “buy” rating for the company in a report on Friday. Lake Street Capital raised their target price on shares of Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc acquired a new position in Limbach in the 4th quarter worth about $37,000. Comerica Bank grew its holdings in shares of Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company’s stock worth $59,000 after purchasing an additional 611 shares during the last quarter. US Bancorp DE acquired a new position in shares of Limbach in the fourth quarter valued at approximately $115,000. KLP Kapitalforvaltning AS bought a new position in Limbach in the 4th quarter valued at approximately $154,000. Finally, Quest Partners LLC acquired a new stake in Limbach during the 3rd quarter worth approximately $207,000. 55.85% of the stock is currently owned by institutional investors.

Limbach Stock Up 7.0 %

The stock’s fifty day simple moving average is $90.72 and its two-hundred day simple moving average is $85.38. The stock has a market capitalization of $831.61 million, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

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.