Concrete Pumping (NASDAQ:BBCP) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Concrete Pumping (NASDAQ:BBCP) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on BBCP. Zacks Research cut shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Robert W. Baird boosted their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Concrete Pumping presently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Concrete Pumping Price Performance

Shares of NASDAQ:BBCP opened at $9.03 on Friday. Concrete Pumping has a fifty-two week low of $5.55 and a fifty-two week high of $12.19. The business has a 50-day simple moving average of $10.26 and a two-hundred day simple moving average of $8.62. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The firm has a market cap of $455.02 million, a price-to-earnings ratio of 64.50 and a beta of 0.86.

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

Insiders Place Their Bets

In related news, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $10.79, for a total value of $1,046,144.45. Following the transaction, the chief financial officer directly owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. This trade represents a 20.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brent M. Stevens sold 97,700 shares of Concrete Pumping stock in a transaction on Friday, July 10th. The shares were 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 $5,384,188.65. This trade represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 346,955 shares of company stock valued at $3,726,529. Insiders own 28.20% of the company’s stock.

Institutional Trading of Concrete Pumping

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Concrete Pumping in the second quarter worth about $16,061,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Concrete Pumping during the 2nd quarter valued at approximately $5,901,000. JB Capital Partners LP bought a new position in shares of Concrete Pumping during the 2nd quarter valued at approximately $4,113,870. Empowered Funds LLC purchased a new stake in Concrete Pumping in the 2nd quarter worth approximately $3,738,000. Finally, Algert Global LLC purchased a new stake in Concrete Pumping in the 2nd quarter worth approximately $2,848,000. Institutional investors own 34.20% of the company’s stock.

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.