Robert W. Baird Increases Concrete Pumping (NASDAQ:BBCP) Price Target to $12.00

Concrete Pumping (NASDAQ:BBCP) had its target price raised by Robert W. Baird from $8.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 11.11% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.25.

Concrete Pumping Stock Up 3.5%

NASDAQ BBCP opened at $10.80 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The firm has a 50-day simple moving average of $7.68 and a 200 day simple moving average of $7.00. Concrete Pumping has a twelve month low of $5.55 and a twelve month high of $11.98. The stock has a market cap of $545.51 million, a PE ratio of 77.14 and a beta of 0.94.

Concrete Pumping (NASDAQ:BBCP) last released its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $96.71 million. On average, research analysts forecast that Concrete Pumping will post 0.17 EPS for the current year.

Institutional Trading of Concrete Pumping

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in shares of Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after purchasing an additional 2,187 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Concrete Pumping in the first quarter valued at approximately $54,000. Strs Ohio acquired a new stake in shares of Concrete Pumping in the first quarter valued at approximately $62,000. Verition Fund Management LLC acquired a new stake in shares of Concrete Pumping in the fourth quarter valued at approximately $69,000. Finally, OakTrust Wealth Advisors LLC acquired a new stake in shares of Concrete Pumping in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.