Limbach (NASDAQ:LMB) Posts Earnings Results, Beats Expectations By $0.16 EPS

Limbach (NASDAQ:LMB) issued its quarterly earnings results on Tuesday. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16, FiscalAI reports. Limbach had a return on equity of 23.22% and a net margin of 4.42%. The business had revenue of $230.46 million for the quarter, compared to analyst estimates of $218.59 million.

Limbach Trading Up 6.4%

Shares of LMB stock traded up $2.99 during trading hours on Tuesday, reaching $49.92. The company had a trading volume of 269,826 shares, compared to its average volume of 266,314. Limbach has a 1-year low of $40.74 and a 1-year high of $114.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $595.55 million, a price-to-earnings ratio of 19.97 and a beta of 1.33. The company has a 50 day moving average of $48.69 and a 200 day moving average of $71.33.

Insider Activity at Limbach

In related news, Director Joshua Horowitz acquired 4,008 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $50.71 per share, with a total value of $203,245.68. Following the completion of the purchase, the director directly owned 171,208 shares in the company, valued at approximately $8,681,957.68. This trade represents a 2.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 7,820 shares of company stock worth $391,002 over the last ninety days. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LMB. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. downgraded shares of Limbach from a “neutral” rating to an “underweight” rating and cut their target price for the company from $60.00 to $50.00 in a research report on Friday, August 21st. Stifel Nicolaus cut their target price on shares of Limbach from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Wall Street Zen raised shares of Limbach from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Limbach presently has a consensus rating of “Hold” and an average price target of $67.50.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ:LMB) provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.

Limbach’s services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.