Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.25.

A number of equities research analysts have recently weighed in on BBCP shares. Robert W. Baird lifted their price objective on Concrete Pumping from $8.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 9th. Texas Capital upgraded Concrete Pumping to a "strong-buy" rating in a report on Tuesday, July 21st. Wall Street Zen raised Concrete Pumping from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings raised Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, June 5th. Finally, Zacks Research downgraded shares of Concrete Pumping from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th.

Concrete Pumping Stock Performance

Shares of BBCP stock opened at $9.60 on Monday. The company has a market capitalization of $483.74 million, a P/E ratio of 68.57 and a beta of 0.86. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The stock has a 50 day moving average price of $10.61 and a two-hundred day moving average price of $8.37. Concrete Pumping has a fifty-two week low of $5.55 and a fifty-two week high of $12.19.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The firm had revenue of $106.80 million during the quarter, compared to analysts' expectations of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. Analysts expect that Concrete Pumping will post 0.17 earnings per share for the current year.

Insider Activity

In other Concrete Pumping news, Director Brent M. Stevens sold 100,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the sale, the director directly owned 597,155 shares in the company, valued at $6,359,700.75. This trade represents a 14.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Iain Humphries sold 96,955 shares of Concrete Pumping stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the sale, the chief financial officer directly owned 377,812 shares in the company, valued at approximately $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 have sold 346,955 shares of company stock worth $3,726,529 in the last quarter. 28.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Concrete Pumping in the 2nd quarter worth about $26,000. Bard Associates Inc. purchased a new stake in shares of Concrete Pumping during the second quarter valued at approximately $30,000. BNP Paribas Financial Markets increased its position in shares of Concrete Pumping by 97.5% during the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company's stock valued at $31,000 after acquiring an additional 2,187 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Concrete Pumping during the first quarter valued at approximately $54,000. Finally, Strs Ohio purchased a new position in Concrete Pumping in the 1st quarter worth approximately $62,000. Institutional investors own 34.20% of the company's stock.

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.

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