Concrete Pumping (NASDAQ:BBCP) Board Initiates Share Buyback Plan

Concrete Pumping (NASDAQ:BBCP - Get Free Report) announced that its board has approved a share repurchase program on Thursday, June 5th, RTT News reports. The company plans to buyback $15.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Concrete Pumping Price Performance

BBCP traded down $1.02 on Friday, reaching $6.07. 360,230 shares of the company's stock were exchanged, compared to its average volume of 135,820. The stock has a market cap of $322.02 million, a PE ratio of 23.35 and a beta of 1.13. Concrete Pumping has a twelve month low of $4.78 and a twelve month high of $9.68. The stock's fifty day moving average price is $6.41 and its 200-day moving average price is $6.74. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The business had revenue of $93.96 million for the quarter, compared to analyst estimates of $99.02 million. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. Sell-side analysts expect that Concrete Pumping will post 0.43 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on BBCP. Robert W. Baird cut their target price on shares of Concrete Pumping from $6.50 to $6.00 and set a "neutral" rating for the company in a research note on Friday. DA Davidson cut their target price on shares of Concrete Pumping from $9.50 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.31.

Insider Buying and Selling

In other Concrete Pumping news, CEO Bruce F. Young purchased 49,507 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $5.19 per share, for a total transaction of $256,941.33. Following the completion of the transaction, the chief executive officer now owns 1,722,622 shares of the company's stock, valued at $8,940,408.18. The trade was a 2.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 26.60% of the stock is currently owned by company insiders.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.

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