Concrete Pumping (NASDAQ:BBCP) Director Brent Stevens Sells 97,700 Shares

Key Points

• Director Brent Stevens sold 97,700 shares of Concrete Pumping Holdings at an average price of $10.83, totaling about $1.06 million and cutting his direct stake by 16.42%.
• The company recently missed earnings expectations, posting $0.04 EPS versus the $0.06 consensus, though revenue of $106.8 million beat estimates.
• Despite mixed fundamentals, analysts have turned more positive, with recent upgrades and a consensus rating of “Moderate Buy” and average price target of $10.25.

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report) Director Brent Stevens sold 97,700 shares of the company's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the transaction, the director directly owned 497,155 shares of the company's stock, valued at $5,384,188.65. This represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Concrete Pumping Stock Performance

Shares of NASDAQ BBCP traded up $0.03 during mid-day trading on Monday, hitting $10.90. The company had a trading volume of 171,168 shares, compared to its average volume of 211,852. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. The business's 50-day simple moving average is $9.45 and its 200-day simple moving average is $7.78. Concrete Pumping Holdings, Inc. has a 12 month low of $5.55 and a 12 month high of $12.19. The firm has a market cap of $549.28 million, a P/E ratio of 77.86 and a beta of 0.84.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. As a group, analysts predict that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on BBCP. Weiss Ratings upgraded Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, June 5th. Robert W. Baird boosted their price target on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, June 9th. Wall Street Zen upgraded shares of Concrete Pumping from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, Zacks Research raised shares of Concrete Pumping from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.25.

Institutional Investors Weigh In On Concrete Pumping

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company's stock worth $31,000 after buying an additional 2,187 shares during the period. Acadian Asset Management LLC bought a new stake in Concrete Pumping in the first quarter valued at $54,000. Mercer Global Advisors Inc. ADV bought a new stake in Concrete Pumping in the third quarter valued at $71,000. Verition Fund Management LLC acquired a new position in Concrete Pumping during the fourth quarter worth $69,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Concrete Pumping during the third quarter worth $74,000. 34.20% of the stock is currently owned by institutional investors.

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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