Concrete Pumping (NASDAQ:BBCP) Posts Earnings Results, Beats Expectations By $0.03 EPS

Concrete Pumping (NASDAQ:BBCP) issued its quarterly earnings data on Thursday. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03, FiscalAI reports. Concrete Pumping had a return on equity of 2.50% and a net margin of 1.65%.The firm had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $96.71 million.

Concrete Pumping Stock Performance

Shares of BBCP stock traded up $0.17 during mid-day trading on Thursday, reaching $7.98. The stock had a trading volume of 218,513 shares, compared to its average volume of 123,759. The business’s fifty day moving average is $7.51 and its 200-day moving average is $6.92. The company has a current ratio of 1.96, a quick ratio of 1.82 and a debt-to-equity ratio of 1.59. The firm has a market cap of $403.07 million, a price-to-earnings ratio of 88.67 and a beta of 0.94. Concrete Pumping has a 1-year low of $5.55 and a 1-year high of $8.13.

Analysts Set New Price Targets

A number of research firms have commented on BBCP. Weiss Ratings reiterated a “hold (c-)” rating on shares of Concrete Pumping in a research note on Friday, April 10th. Robert W. Baird increased their price target on Concrete Pumping from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen cut Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Concrete Pumping has a consensus rating of “Hold” and an average target price of $8.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Occudo Quantitative Strategies LP increased its holdings in shares of Concrete Pumping by 17.4% in the fourth 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 period. Aristeia Capital L.L.C. increased its holdings in shares of Concrete Pumping by 32.5% in the fourth 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 period. Jump Financial LLC acquired a new position in shares of Concrete Pumping in the fourth quarter valued at about $260,000. State of Wisconsin Investment Board grew its holdings in Concrete Pumping by 28.8% during the fourth quarter. State of Wisconsin Investment Board now owns 59,500 shares of the company’s stock worth $399,000 after acquiring an additional 13,300 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Concrete Pumping during the fourth quarter worth about $69,000. 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.