DA Davidson Has Lowered Expectations for Concrete Pumping (NASDAQ:BBCP) Stock Price

Concrete Pumping (NASDAQ:BBCP - Get Free Report) had its price objective cut by analysts at DA Davidson from $9.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's target price would suggest a potential upside of 34.12% from the stock's previous close.

Separately, Robert W. Baird decreased their price target on shares of Concrete Pumping from $6.50 to $6.00 and set a "neutral" rating on the stock in a research note on Friday.

Concrete Pumping Stock Performance

NASDAQ BBCP traded down $0.11 during trading hours on Monday, hitting $5.97. 41,401 shares of the company's stock traded hands, compared to its average volume of 178,571. The business's fifty day moving average price is $6.41 and its two-hundred day moving average price is $6.75. The company has a current ratio of 1.99, a quick ratio of 1.89 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $316.45 million, a P/E ratio of 22.94 and a beta of 1.13. Concrete Pumping has a 52 week low of $4.78 and a 52 week high of $9.68.

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). Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. The firm had revenue of $93.96 million during the quarter, compared to the consensus estimate of $99.02 million. Equities research analysts predict that Concrete Pumping will post 0.43 EPS for the current year.

Concrete Pumping announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Transactions at Concrete Pumping

In related news, CEO Bruce F. Young purchased 49,507 shares of Concrete Pumping stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $5.19 per share, with a total value of $256,941.33. Following the purchase, the chief executive officer now directly owns 1,722,622 shares of the company's stock, valued at approximately $8,940,408.18. This represents a 2.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in Concrete Pumping during the 1st quarter worth about $54,000. Cubist Systematic Strategies LLC bought a new stake in shares of Concrete Pumping in the 4th quarter valued at about $55,000. Strs Ohio bought a new stake in shares of Concrete Pumping in the 1st quarter valued at about $62,000. XTX Topco Ltd bought a new stake in shares of Concrete Pumping in the 1st quarter valued at about $69,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Concrete Pumping in the 1st quarter valued at about $73,000. 34.20% of the stock is currently 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.

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