Concrete Pumping (NASDAQ:BBCP - Free Report) had its price target cut by Robert W. Baird from $6.50 to $6.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.
Separately, DA Davidson dropped their target price on Concrete Pumping from $9.50 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. 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.com, Concrete Pumping presently has an average rating of "Hold" and an average price target of $7.31.
Read Our Latest Analysis on BBCP
Concrete Pumping Trading Down 14.4%
Shares of NASDAQ:BBCP traded down $1.02 during trading hours on Friday, hitting $6.07. 360,230 shares of the company's stock traded hands, compared to its average volume of 135,820. Concrete Pumping has a 1 year low of $4.78 and a 1 year high of $9.68. The business has a fifty day moving average price of $6.41 and a 200-day moving average price of $6.74. The firm has a market capitalization of $322.02 million, a P/E ratio of 23.35 and a beta of 1.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89.
Concrete Pumping (NASDAQ:BBCP - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Concrete Pumping had a net margin of 3.81% and a return on equity of 6.19%. The business had revenue of $93.96 million for the quarter, compared to analysts' expectations of $99.02 million. Equities analysts expect that Concrete Pumping will post 0.43 earnings per share for the current year.
Concrete Pumping announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 5th that permits the company to repurchase $15.00 million in shares. This repurchase authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Insider Activity at Concrete Pumping
In other news, CEO Bruce F. Young purchased 49,507 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $5.19 per share, for a total transaction of $256,941.33. Following the completion of the acquisition, the chief executive officer now owns 1,722,622 shares of the company's stock, valued at approximately $8,940,408.18. This trade represents a 2.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 26.60% of the stock is owned by company insiders.
Institutional Trading of Concrete Pumping
A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Concrete Pumping by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,941 shares of the company's stock valued at $11,315,000 after purchasing an additional 56,048 shares during the period. Royce & Associates LP boosted its holdings in shares of Concrete Pumping by 13.9% in the fourth quarter. Royce & Associates LP now owns 1,448,577 shares of the company's stock valued at $9,648,000 after purchasing an additional 176,490 shares during the period. Invesco Ltd. lifted its holdings in Concrete Pumping by 3.8% during the first 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 holdings in Concrete Pumping by 2.0% during the first quarter. Bridgeway Capital Management LLC now owns 584,737 shares of the company's stock worth $3,193,000 after buying an additional 11,605 shares during the period. Finally, Seven Six Capital Management LLC lifted its holdings in Concrete Pumping by 4.2% during the first quarter. Seven Six Capital Management LLC now owns 547,359 shares of the company's stock worth $2,989,000 after buying an additional 21,852 shares during the period. Hedge funds and other institutional investors own 34.20% of the company's stock.
About Concrete Pumping
(
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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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