Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Concrete Pumping Holdings has a consensus analyst rating of “Buy” from five covering firms, with an average 12-month price target of $10.25. Recent analyst action included upgrades from Zacks Research, Texas Capital, and Wall Street Zen.
• The stock opened at $10.82 and has traded between a 52-week low of $5.55 and high of $12.19. The company’s market cap is about $545.2 million, with shares trading above both the 50-day and 200-day moving averages.
• In its latest quarterly report, Concrete Pumping posted $0.04 EPS, missing expectations, but revenue of $106.8 million beat estimates. The article also noted recent insider selling by the CFO and a director, while institutional ownership stands at 34.2%.

Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report) have been given a consensus rating of "Buy" by the five ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.25.

Several equities research analysts recently issued reports on the company. Zacks Research upgraded Concrete Pumping from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 1st. Texas Capital upgraded Concrete Pumping to a "strong-buy" rating in a research report on Tuesday. Robert W. Baird raised their price target on Concrete Pumping from $8.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 9th. Wall Street Zen raised Concrete Pumping from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised shares of Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 5th.

Concrete Pumping Stock Performance

Shares of BBCP stock opened at $10.82 on Thursday. Concrete Pumping has a 52 week low of $5.55 and a 52 week high of $12.19. The company has a market capitalization of $545.22 million, a price-to-earnings ratio of 77.29 and a beta of 0.84. The company has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $7.99. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 3.47% and a net margin of 2.23%.The company had revenue of $106.80 million for the quarter, compared to analyst estimates of $96.71 million. On average, sell-side analysts predict that Concrete Pumping will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Concrete Pumping

In other Concrete Pumping news, CFO Iain Humphries sold 96,955 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the transaction, the chief financial officer owned 377,812 shares of the company's stock, valued at approximately $4,076,591.48. The trade was a 20.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brent M. Stevens sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the sale, the director owned 597,155 shares in the company, valued at approximately $6,359,700.75. The trade was a 14.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 346,955 shares of company stock worth $3,726,529. Corporate insiders own 28.20% of the company's stock.

Institutional Trading of Concrete Pumping

A number of hedge funds have recently added to or reduced their stakes in BBCP. Occudo Quantitative Strategies LP boosted its holdings in Concrete Pumping by 17.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company's stock worth $83,000 after acquiring an additional 1,825 shares in the last quarter. Deutsche Bank AG raised its position in shares of Concrete Pumping by 9.2% during the fourth quarter. Deutsche Bank AG now owns 24,345 shares of the company's stock worth $163,000 after purchasing an additional 2,049 shares during the period. Jane Street Group LLC lifted its holdings in shares of Concrete Pumping by 6.4% in the 2nd quarter. Jane Street Group LLC now owns 33,962 shares of the company's stock worth $209,000 after purchasing an additional 2,056 shares in the last quarter. BNP Paribas Financial Markets grew its position 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 increased its stake in 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. Institutional investors and hedge funds 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.

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