Concrete Pumping (NASDAQ:BBCP) Stock Rating Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Concrete Pumping to “strong buy” from “hold,” while the stock carries an overall “Buy” rating and a consensus price target of $12.00.
• Concrete Pumping reported quarterly EPS of $0.09, exceeding the $0.08 estimate, and revenue of $116.77 million, above the $110.19 million consensus forecast.
• BBCP opened at $9.36, with a market capitalization of approximately $471.65 million; institutional investors own 34.20% of the company.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

Several other brokerages also recently issued reports on BBCP. Weiss Ratings raised Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 14th. Texas Capital raised Concrete Pumping to a "strong-buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Concrete Pumping from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $12.00.

Concrete Pumping Trading Up 1.0%

NASDAQ:BBCP opened at $9.36 on Wednesday. Concrete Pumping has a one year low of $5.55 and a one year high of $12.19. The business has a fifty day moving average price of $9.61 and a 200-day moving average price of $9.38. The firm has a market capitalization of $471.65 million, a price-to-earnings ratio of 57.94 and a beta of 0.88. 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 (NASDAQ:BBCP - Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $110.19 million. Sell-side analysts forecast that Concrete Pumping will post 0.19 EPS for the current year.

Institutional Trading of Concrete Pumping

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Concrete Pumping in the 2nd quarter valued at $26,000. State of Alaska Department of Revenue raised its holdings in Concrete Pumping by 20.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,936 shares of the company's stock valued at $134,000 after acquiring an additional 2,396 shares during the last quarter. Bard Associates Inc. purchased a new position in Concrete Pumping during the second quarter worth approximately $30,000. Hsbc Holdings PLC boosted its position in shares of Concrete Pumping by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 49,586 shares of the company's stock valued at $597,000 after acquiring an additional 3,364 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Concrete Pumping by 15.0% in the 1st quarter. Bank of America Corp DE now owns 39,563 shares of the company's stock valued at $282,000 after buying an additional 5,154 shares during the period. Hedge funds and other institutional investors own 34.20% of the company's stock.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc NASDAQ: BBCP provides concrete pumping and related services for commercial, residential, infrastructure, and industrial construction projects. Through its Brundage-Bone Concrete Pumping operations, the company uses truck-mounted and trailer-mounted concrete pumps to place concrete in locations that may be difficult or inefficient to reach with conventional methods.

The company also provides concrete waste-management services through its Eco-Pan business.

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