Concrete Pumping (NASDAQ:BBCP) Trading 1.9% Higher - Here's Why

Key Points

• Concrete Pumping Holdings (NASDAQ:BBCP) traded up 1.9% midday to $7.11 (high $7.13) on 128,239 shares, about 25% below its average session volume.
• Analysts maintain a consensus "Hold" with an average price target of $8.25, though Robert W. Baird raised its target to $8 (neutral) and Wall Street Zen recently upgraded the stock to a "Buy".
• In the latest quarter BBCP reported EPS of ($0.06) vs. an expected ($0.09) and revenue of $90.56 million beating estimates, while analysts project about $0.43 in EPS for the current year.

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report)'s stock price traded up 1.9% during mid-day trading on Monday . The stock traded as high as $7.13 and last traded at $7.11. 128,239 shares changed hands during trading, a decline of 25% from the average session volume of 170,895 shares. The stock had previously closed at $6.98.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird raised their target price on Concrete Pumping from $7.50 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. Wall Street Zen raised Concrete Pumping from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Concrete Pumping in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Concrete Pumping currently has a consensus rating of "Hold" and an average price target of $8.25.

Concrete Pumping Stock Performance

The company has a 50-day moving average price of $6.68 and a two-hundred day moving average price of $6.66. The company has a current ratio of 1.96, a quick ratio of 1.82 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $359.13 million, a P/E ratio of 79.00 and a beta of 0.97.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. Concrete Pumping had a return on equity of 2.50% and a net margin of 1.65%.The firm had revenue of $90.56 million during the quarter, compared to analyst estimates of $84.82 million. On average, equities analysts forecast that Concrete Pumping Holdings, Inc. will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BBCP. Royal Bank of Canada raised its position in shares of Concrete Pumping by 5.7% in the 1st quarter. Royal Bank of Canada now owns 161,031 shares of the company's stock worth $878,000 after acquiring an additional 8,620 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Concrete Pumping in the 1st quarter worth about $78,000. Empowered Funds LLC raised its position in shares of Concrete Pumping by 3.7% in the 1st quarter. Empowered Funds LLC now owns 321,737 shares of the company's stock worth $1,757,000 after acquiring an additional 11,605 shares in the last quarter. Jane Street Group LLC raised its position in shares of Concrete Pumping by 166.4% in the 1st quarter. Jane Street Group LLC now owns 31,906 shares of the company's stock worth $174,000 after acquiring an additional 19,929 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Concrete Pumping in the 1st quarter valued at about $54,000. 34.20% of the stock is 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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