Robert W. Baird Increases Concrete Pumping (NASDAQ:BBCP) Price Target to $12.00

Concrete Pumping (NASDAQ:BBCP) had its price target raised by Robert W. Baird from $8.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 11.11% from the company’s previous close.

BBCP has been the topic of a number of other reports. Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.25.

Concrete Pumping Trading Up 3.5%

NASDAQ BBCP opened at $10.80 on Tuesday. Concrete Pumping has a 1-year low of $5.55 and a 1-year high of $11.98. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $545.51 million, a PE ratio of 77.14 and a beta of 0.94. The firm’s fifty day simple moving average is $7.68 and its 200-day simple moving average is $7.00.

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

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raiffeisen Bank International AG lifted its stake in shares of Concrete Pumping by 64.0% in the third quarter. Raiffeisen Bank International AG now owns 254,785 shares of the company’s stock valued at $1,796,000 after buying an additional 99,395 shares during the period. Royce & Associates LP lifted its stake in shares of Concrete Pumping by 5.4% in the third quarter. Royce & Associates LP now owns 1,767,641 shares of the company’s stock valued at $12,462,000 after buying an additional 90,516 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Concrete Pumping by 13.8% in the third quarter. GSA Capital Partners LLP now owns 83,790 shares of the company’s stock valued at $591,000 after buying an additional 10,185 shares during the period. North Star Investment Management Corp. bought a new stake in shares of Concrete Pumping in the first quarter valued at about $885,000. Finally, OakTrust Wealth Advisors LLC bought a new stake in shares of Concrete Pumping in the fourth quarter valued at about $71,000. 34.20% of the stock is owned by institutional investors and hedge funds.

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.