Limbach (NASDAQ:LMB) Shares Gap Up on Earnings Beat

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) gapped up prior to trading 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.

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 firm had revenue of $143.70 million for the quarter, compared to analyst estimates of $149.37 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up .7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

LMB has been the subject of a number of analyst reports. Lake Street Capital lifted their price target on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus cut their target price on Limbach from $117.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday. Finally, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Hedge Funds Weigh In On Limbach

Several large investors have recently modified their holdings of LMB. IFP Advisors Inc purchased a new position in Limbach during the 4th quarter valued at about $37,000. Comerica Bank lifted its stake in Limbach by 727.4% in the 4th quarter. Comerica Bank now owns 695 shares of the construction company’s stock worth $59,000 after purchasing an additional 611 shares in the last quarter. US Bancorp DE bought a new position in Limbach in the 4th quarter valued at $115,000. KLP Kapitalforvaltning AS purchased a new position in shares of Limbach during the 4th quarter valued at $154,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Limbach in the fourth quarter worth $223,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Up 7.0 %

The company has a market cap of $831.61 million, a PE ratio of 33.53, a P/E/G ratio of 2.22 and a beta of 1.18. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $90.72 and a 200-day moving average of $85.38.

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.