Concrete Pumping (NASDAQ:BBCP) Trading 1.9% Higher – Here’s Why

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)’s share price was up 1.9% during trading on Monday . The company traded as high as $7.13 and last traded at $7.11. Approximately 128,239 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 170,895 shares. The stock had previously closed at $6.98.

Analysts Set New Price Targets

A number of analysts recently commented on BBCP shares. Robert W. Baird boosted their target price on Concrete Pumping from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, March 11th. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Concrete Pumping in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Concrete Pumping currently has a consensus rating of “Hold” and an average target price of $8.25.

Concrete Pumping Price Performance

The firm has a market capitalization of $359.13 million, a P/E ratio of 79.00 and a beta of 0.97. The business has a 50-day moving average of $6.68 and a 200 day moving average of $6.66. The company has a current ratio of 1.96, a quick ratio of 1.82 and a debt-to-equity ratio of 1.59.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $90.56 million during the quarter, compared to the consensus estimate of $84.82 million. Concrete Pumping had a return on equity of 2.50% and a net margin of 1.65%. On average, sell-side analysts predict that Concrete Pumping Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its stake in Concrete Pumping by 12.8% during the 4th quarter. Hsbc Holdings PLC now owns 51,370 shares of the company’s stock valued at $347,000 after purchasing an additional 5,840 shares during the last quarter. OakTrust Wealth Advisors LLC acquired a new position in Concrete Pumping during the 4th quarter valued at about $71,000. Aristides Capital LLC boosted its stake in Concrete Pumping by 7.7% during the 4th quarter. Aristides Capital LLC now owns 99,392 shares of the company’s stock valued at $667,000 after purchasing an additional 7,142 shares during the last quarter. Occudo Quantitative Strategies LP boosted its stake in Concrete Pumping by 17.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company’s stock valued at $83,000 after purchasing an additional 1,825 shares during the last quarter. Finally, Aristeia Capital L.L.C. boosted its stake in Concrete Pumping by 32.5% during the 4th quarter. Aristeia Capital L.L.C. now owns 18,293 shares of the company’s stock valued at $123,000 after purchasing an additional 4,489 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

About Concrete Pumping

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.