Robert W. Baird Cuts Concrete Pumping (NASDAQ:BBCP) Price Target to $6.00

Concrete Pumping (NASDAQ:BBCP - Free Report) had its price target reduced by Robert W. Baird from $6.50 to $6.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, DA Davidson cut their price target on Concrete Pumping from $9.50 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th.

Concrete Pumping Trading Down 3.1%

Shares of NASDAQ BBCP traded down $0.19 during trading on Friday, reaching $5.88. The stock had a trading volume of 175,827 shares, compared to its average volume of 134,917. Concrete Pumping has a fifty-two week low of $4.78 and a fifty-two week high of $9.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.89 and a current ratio of 1.99. The business's 50-day moving average price is $6.42 and its 200-day moving average price is $6.75. The company has a market cap of $311.94 million, a P/E ratio of 22.62 and a beta of 1.13.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. The company had revenue of $93.96 million for the quarter, compared to analysts' expectations of $99.02 million. On average, equities research analysts predict that Concrete Pumping will post 0.43 EPS for the current fiscal year.

Concrete Pumping announced that its Board of Directors has authorized a stock buyback program on Thursday, June 5th that authorizes the company to buyback $15.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Concrete Pumping news, CEO Bruce F. Young acquired 49,507 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $5.19 per share, with a total value of $256,941.33. Following the transaction, the chief executive officer now owns 1,722,622 shares in the company, valued at $8,940,408.18. The trade was a 2.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Concrete Pumping by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,941 shares of the company's stock worth $11,315,000 after acquiring an additional 56,048 shares in the last quarter. Royce & Associates LP boosted its position in shares of Concrete Pumping by 13.9% during the 4th quarter. Royce & Associates LP now owns 1,448,577 shares of the company's stock worth $9,648,000 after acquiring an additional 176,490 shares in the last quarter. Invesco Ltd. boosted its position in shares of Concrete Pumping by 3.8% during the 1st quarter. Invesco Ltd. now owns 618,525 shares of the company's stock worth $3,377,000 after acquiring an additional 22,495 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Concrete Pumping by 2.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 584,737 shares of the company's stock worth $3,193,000 after acquiring an additional 11,605 shares in the last quarter. Finally, Seven Six Capital Management LLC boosted its position in shares of Concrete Pumping by 4.2% during 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 in the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.

About Concrete Pumping

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.