Limbach (NASDAQ:LMB) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Limbach (NASDAQ:LMB) from a hold rating to a strong sell rating in a research note released on Thursday 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. “

LMB has been the subject of several other research reports. TheStreet raised shares of Limbach from a d+ rating to a c rating in a research note on Wednesday, May 29th. DA Davidson dropped their price target on shares of Limbach to $9.00 and set a buy rating for the company in a research note on Monday, August 19th.

Limbach stock opened at $4.59 on Thursday. The firm has a 50 day simple moving average of $7.97 and a 200-day simple moving average of $7.78. Limbach has a 1-year low of $3.56 and a 1-year high of $12.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $36.00 million, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Wednesday, August 14th. The construction company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.32). Limbach had a net margin of 0.09% and a return on equity of 2.21%. The firm had revenue of $132.75 million during the quarter, compared to analysts’ expectations of $138.00 million. Equities analysts expect that Limbach will post 0.88 earnings per share for the current fiscal year.

In related news, insider 1347 Investors Llc sold 200,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $9.00, for a total transaction of $1,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 41.90% of the company’s stock.

Several large investors have recently bought and sold shares of LMB. Hillsdale Investment Management Inc. purchased a new position in shares of Limbach during the 2nd quarter worth approximately $2,196,000. Renaissance Technologies LLC purchased a new position in shares of Limbach during the 2nd quarter worth approximately $1,559,000. Vanguard Group Inc. boosted its position in shares of Limbach by 736.1% during the 2nd quarter. Vanguard Group Inc. now owns 143,571 shares of the construction company’s stock worth $1,306,000 after purchasing an additional 126,399 shares during the period. Wells Fargo & Company MN purchased a new position in shares of Limbach during the 2nd quarter worth approximately $957,000. Finally, ClariVest Asset Management LLC acquired a new stake in Limbach during the 2nd quarter worth approximately $723,000. 31.37% of the stock is owned by hedge funds and other institutional investors.

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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