Concrete Pumping (NASDAQ:BBCP - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04), Zacks reports. The business had revenue of $93.96 million for the quarter, compared to analysts' expectations of $99.02 million. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. Concrete Pumping updated its FY 2025 guidance to EPS.
Concrete Pumping Price Performance
Shares of NASDAQ BBCP traded down $1.02 during midday trading on Friday, hitting $6.07. The stock had a trading volume of 360,230 shares, compared to its average volume of 135,820. The company has a market capitalization of $322.02 million, a PE ratio of 23.35 and a beta of 1.13. The stock has a 50 day simple moving average of $6.41 and a 200-day simple moving average of $6.74. Concrete Pumping has a 1 year low of $4.78 and a 1 year high of $9.68. The company has a quick ratio of 1.89, a current ratio of 1.99 and a debt-to-equity ratio of 1.16.
Wall Street Analysts Forecast Growth
BBCP has been the topic of several research reports. DA Davidson decreased their target price on Concrete Pumping from $9.50 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird decreased their target price on Concrete Pumping from $6.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.31.
Check Out Our Latest Research Report on BBCP
Insider Buying and Selling
In related news, CEO Bruce F. Young acquired 49,507 shares of Concrete Pumping stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price 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 in the company, valued at $8,940,408.18. This represents a 2.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 26.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Concrete Pumping
A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Concrete Pumping during the first quarter worth $54,000. Strs Ohio acquired a new stake in shares of Concrete Pumping in the first quarter valued at $62,000. AQR Capital Management LLC acquired a new stake in shares of Concrete Pumping in the first quarter valued at $78,000. Jane Street Group LLC grew its stake in shares of Concrete Pumping by 166.4% in the first quarter. Jane Street Group LLC now owns 31,906 shares of the company's stock valued at $174,000 after buying an additional 19,929 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Concrete Pumping by 5.7% in the first quarter. Royal Bank of Canada now owns 161,031 shares of the company's stock valued at $878,000 after buying an additional 8,620 shares in the last quarter. Hedge funds and other institutional investors own 34.20% of the company's stock.
Concrete Pumping declared that its board has authorized a stock repurchase plan on Thursday, June 5th that permits the company to repurchase $15.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
Concrete Pumping Company Profile
(
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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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