Concrete Pumping (NASDAQ:BBCP) Stock Rating Upgraded by Zacks Research

Concrete Pumping (NASDAQ:BBCP) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on BBCP. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Robert W. Baird boosted their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Concrete Pumping Stock Performance

BBCP stock opened at $11.11 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $559.87 million, a price-to-earnings ratio of 79.36 and a beta of 0.84. Concrete Pumping has a 12 month low of $5.55 and a 12 month high of $12.19. The firm has a 50 day moving average of $9.07 and a two-hundred day moving average of $7.61.

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

Insider Buying and Selling at Concrete Pumping

In other news, CFO Iain Humphries sold 96,955 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the transaction, the chief financial officer owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. This represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brent M. Stevens sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the sale, the director owned 597,155 shares of the company’s stock, valued at $6,359,700.75. This represents a 14.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 246,955 shares of company stock worth $2,643,644. 28.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP increased its stake in shares of Concrete Pumping by 17.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company’s stock valued at $83,000 after buying an additional 1,825 shares in the last quarter. Deutsche Bank AG lifted its position in Concrete Pumping by 9.2% during the 4th quarter. Deutsche Bank AG now owns 24,345 shares of the company’s stock worth $163,000 after buying an additional 2,049 shares in the last quarter. Jane Street Group LLC grew its holdings in Concrete Pumping by 6.4% during the 2nd quarter. Jane Street Group LLC now owns 33,962 shares of the company’s stock worth $209,000 after acquiring an additional 2,056 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after acquiring an additional 2,187 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Concrete Pumping by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 77,067 shares of the company’s stock valued at $474,000 after acquiring an additional 3,076 shares in the last quarter. 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.