Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Receives Consensus Rating of “Buy” from Brokerages

Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) have been given an average rating of “Buy” by the five analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.25.

A number of brokerages have issued reports on BBCP. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a research report on Tuesday. Robert W. Baird raised their price target 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. Zacks Research raised shares of Concrete Pumping from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th.

Insider Transactions at Concrete Pumping

In other Concrete Pumping news, Director Brent M. Stevens sold 97,700 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the completion of 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Iain Humphries sold 96,955 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 in the company, valued at $4,076,591.48. The trade was a 20.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 346,955 shares of company stock worth $3,726,529 over the last 90 days. 28.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds and other institutional investors have recently modified their holdings of BBCP. Occudo Quantitative Strategies LP grew its stake in Concrete Pumping by 17.4% during the fourth quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company’s stock valued at $83,000 after acquiring an additional 1,825 shares in the last quarter. Deutsche Bank AG lifted its stake in Concrete Pumping by 9.2% in the 4th quarter. Deutsche Bank AG now owns 24,345 shares of the company’s stock worth $163,000 after purchasing an additional 2,049 shares in the last quarter. Jane Street Group LLC boosted its holdings in Concrete Pumping by 6.4% in the 2nd quarter. Jane Street Group LLC now owns 33,962 shares of the company’s stock valued at $209,000 after purchasing an additional 2,056 shares during the period. BNP Paribas Financial Markets boosted its holdings in Concrete Pumping by 97.5% in the 3rd 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 during the period. Finally, First Trust Advisors LP grew its position in shares of Concrete Pumping by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 77,067 shares of the company’s stock valued at $474,000 after purchasing an additional 3,076 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors.

Concrete Pumping Trading Up 3.4%

Shares of Concrete Pumping stock opened at $10.82 on Thursday. The company has a market capitalization of $545.22 million, a P/E ratio of 77.29 and a beta of 0.84. The stock has a fifty day simple moving average of $9.90 and a 200 day simple moving average of $7.99. Concrete Pumping has a 12-month low of $5.55 and a 12-month high of $12.19. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.59.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.04 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 firm had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $96.71 million. On average, sell-side analysts anticipate that Concrete Pumping will post 0.17 earnings per share for the current fiscal year.

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.