Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Given Average Recommendation of “Buy” by Brokerages

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has been assigned a consensus rating of “Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.25.

A number of equities research analysts have recently issued reports on BBCP shares. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Zacks Research raised shares of Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Robert W. Baird lifted their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Texas Capital upgraded shares of Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st.

Concrete Pumping Price Performance

NASDAQ BBCP opened at $10.35 on Thursday. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. Concrete Pumping has a 12-month low of $5.55 and a 12-month high of $12.19. The company has a market capitalization of $521.54 million, a PE ratio of 73.93 and a beta of 0.84. The firm’s 50 day moving average is $10.10 and its 200-day moving average is $8.06.

Concrete Pumping (NASDAQ:BBCP) last announced its earnings results on Thursday, June 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $106.80 million for the quarter, compared to analyst estimates of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. Equities research analysts anticipate that Concrete Pumping will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Concrete Pumping

In related news, CFO Iain Humphries sold 96,955 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the sale, the chief financial officer owned 377,812 shares of the company’s stock, valued at $4,076,591.48. This represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brent M. Stevens sold 97,700 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $10.83, for a total value of $1,058,091.00. Following the transaction, the director owned 497,155 shares in the company, valued at approximately $5,384,188.65. This trade represents a 16.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 346,955 shares of company stock valued at $3,726,529. 28.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Concrete Pumping

Several large investors have recently modified their holdings of BBCP. BNP Paribas Financial Markets raised its stake in Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after purchasing an additional 2,187 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Concrete Pumping during the first quarter worth about $54,000. Strs Ohio acquired a new stake in Concrete Pumping during the first quarter worth about $62,000. Verition Fund Management LLC bought a new position in Concrete Pumping in the 4th quarter valued at about $69,000. Finally, OakTrust Wealth Advisors LLC bought a new position in Concrete Pumping in the 4th quarter valued at about $71,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.