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

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

Several other brokerages also recently weighed in on LMB. DA Davidson cut their target price on shares of Limbach to $9.00 and set a buy rating on the stock in a research note on Monday, August 19th. TheStreet raised shares of Limbach from a d+ rating to a c rating in a research note on Wednesday, May 29th.

Shares of LMB opened at $4.59 on Thursday. Limbach has a fifty-two week low of $3.56 and a fifty-two week high of $12.18. The firm’s 50 day moving average price is $7.97 and its 200 day moving average price is $7.78. The company has a market cap of $36.00 million, a P/E ratio of -8.83, a PEG ratio of 0.33 and a beta of 1.48. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Limbach (NASDAQ:LMB) last announced its 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 return on equity of 2.21% and a net margin of 0.09%. The business had revenue of $132.75 million for the quarter, compared to analysts’ expectations of $138.00 million. Research analysts forecast that Limbach will post 0.88 earnings per share for the current year.

In other Limbach 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 value of $1,800,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 41.90% of the company’s stock.

Large investors have recently made changes to their positions in the business. Advisor Group Inc. increased its position in shares of Limbach by 438.4% in the 2nd quarter. Advisor Group Inc. now owns 2,886 shares of the construction company’s stock valued at $26,000 after purchasing an additional 2,350 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Limbach by 690.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,900 shares of the construction company’s stock valued at $65,000 after purchasing an additional 6,900 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Limbach in the 2nd quarter valued at approximately $194,000. BlackRock Inc. increased its position in shares of Limbach by 70.0% in the 4th quarter. BlackRock Inc. now owns 22,989 shares of the construction company’s stock valued at $85,000 after purchasing an additional 9,470 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Limbach in the 2nd quarter valued at approximately $261,000. 31.37% of the stock is currently owned by 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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