Concrete Pumping (NASDAQ:BBCP) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Concrete Pumping from “buy” to “hold.” Other analyst views are mixed, but MarketBeat reports a consensus “buy” rating and a $12.00 price target.
• BBCP opened at $10.07 after a reported 1.9% decline; its share price was between $5.55 and $12.19 over the past 12 months.
• In its latest reported quarter, Concrete Pumping earned $0.09 per share, ahead of the $0.08 consensus, and revenue of $116.77 million, above analysts’ $110.19 million estimate.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on BBCP. Zacks Research raised Concrete Pumping from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 21st. Weiss Ratings raised shares of Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 14th. Finally, Texas Capital raised shares of Concrete Pumping to a "strong-buy" rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $12.00.

Concrete Pumping Trading Down 1.9%

NASDAQ:BBCP opened at $10.07 on Friday. The firm has a market capitalization of $507.43 million, a P/E ratio of 62.94 and a beta of 0.90. The business has a 50 day simple moving average of $9.82 and a 200 day simple moving average of $8.80. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.71 and a quick ratio of 1.60. Concrete Pumping has a 12-month low of $5.55 and a 12-month high of $12.19.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last posted its earnings results on Thursday, September 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Concrete Pumping had a return on equity of 3.91% and a net margin of 2.45%. The company had revenue of $116.77 million for the quarter, compared to analysts' expectations of $110.19 million. Equities research analysts predict that Concrete Pumping will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Concrete Pumping

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in Concrete Pumping in the second quarter worth approximately $26,000. Bard Associates Inc. bought a new position in shares of Concrete Pumping during the 2nd quarter valued at $30,000. L2 Asset Management LLC acquired a new stake in shares of Concrete Pumping in the 2nd quarter valued at $124,000. OakTrust Wealth Advisors LLC acquired a new stake in shares of Concrete Pumping in the 2nd quarter valued at $128,000. Finally, Vise Technologies Inc. bought a new stake in Concrete Pumping in the second quarter worth $149,000. 34.20% of the stock is owned by institutional investors and hedge funds.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc. provides concrete pumping and related services through its Brundage-Bone, Camfaud and Eco-Pan businesses. Its concrete pumping operations serve construction projects by transporting and placing concrete using equipment such as boom pumps, line pumps and truck-mounted conveyors. The company serves customers in the United States and the United Kingdom. Its Eco-Pan business provides concrete washout services, collecting and managing concrete waste at construction sites and helping customers meet environmental and site-safety requirements.

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