Concrete Pumping (NASDAQ:BBCP) Price Target Raised to $8.50

Key Points

• Concrete Pumping's price target has been raised from $8.00 to $8.50 by DA Davidson, suggesting a potential upside of 14.63%.
• The company reported earnings of $0.07 per share for the last quarter, exceeding the consensus estimate of $0.06.
• Concrete Pumping has initiated a $15 million share repurchase program, indicating confidence in the stock's current valuation.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) had its target price boosted by equities research analysts at DA Davidson from $8.00 to $8.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target would suggest a potential upside of 14.63% from the company's current price.

Other analysts have also issued reports about the stock. Zacks Research raised shares of Concrete Pumping to a "hold" rating in a research report on Tuesday, August 12th. Robert W. Baird increased their price objective on Concrete Pumping from $6.00 to $6.50 and gave the stock a "neutral" rating in a report on Friday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.50.

Concrete Pumping Price Performance

Shares of NASDAQ BBCP traded down $0.23 during midday trading on Monday, reaching $7.42. The company's stock had a trading volume of 120,039 shares, compared to its average volume of 148,619. Concrete Pumping has a one year low of $4.78 and a one year high of $9.68. The company has a market cap of $385.80 million, a price-to-earnings ratio of 46.59 and a beta of 1.13. The company has a 50 day moving average price of $6.86 and a 200 day moving average price of $6.44. The company has a current ratio of 1.75, a quick ratio of 1.64 and a debt-to-equity ratio of 1.60.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last released its earnings results on Thursday, September 4th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $99.76 million. Concrete Pumping had a net margin of 2.65% and a return on equity of 4.19%. During the same period last year, the firm posted $0.13 earnings per share. Concrete Pumping has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Concrete Pumping will post 0.43 EPS for the current year.

Concrete Pumping announced that its Board of Directors has initiated a share repurchase program on Thursday, June 5th that authorizes the company 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 typically a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC increased its position in Concrete Pumping by 7.3% in the 2nd quarter. Jennison Associates LLC now owns 1,510,735 shares of the company's stock worth $9,291,000 after buying an additional 103,022 shares during the period. Invesco Ltd. increased its position in Concrete Pumping by 3.8% in the 1st quarter. Invesco Ltd. now owns 618,525 shares of the company's stock worth $3,377,000 after buying an additional 22,495 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Concrete Pumping by 0.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company's stock worth $3,628,000 after acquiring an additional 5,224 shares during the period. Seven Six Capital Management LLC lifted its position in shares of Concrete Pumping by 4.2% in the 1st quarter. Seven Six Capital Management LLC now owns 547,359 shares of the company's stock worth $2,989,000 after acquiring an additional 21,852 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Concrete Pumping by 17.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 419,905 shares of the company's stock worth $2,582,000 after acquiring an additional 61,943 shares during the period. 34.20% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.