Concrete Pumping (NASDAQ:BBCP) Rating Lowered to “Hold” at Zacks Research

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

Several other research firms have also recently weighed in on BBCP. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Robert W. Baird increased their price target on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Concrete Pumping Trading Down 1.3%

NASDAQ:BBCP opened at $9.74 on Tuesday. Concrete Pumping has a 52 week low of $5.55 and a 52 week high of $12.19. The firm has a 50-day moving average price of $10.43 and a two-hundred day moving average price of $8.20. 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 market cap of $490.83 million, a price-to-earnings ratio of 69.57 and a beta of 0.86.

Concrete Pumping (NASDAQ:BBCP) last announced its 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 during the quarter, compared to analysts’ expectations of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. On average, equities analysts expect that Concrete Pumping will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Concrete Pumping

In other news, Director Brent M. Stevens sold 97,700 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the completion of the transaction, the director owned 497,155 shares in the company, valued at approximately $5,384,188.65. This represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of Concrete Pumping stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the sale, the chief financial officer directly owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. This trade represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 346,955 shares of company stock worth $3,726,529. Corporate insiders own 28.20% of the company’s stock.

Institutional Investors Weigh In On Concrete Pumping

Several institutional investors have recently added to or reduced their stakes in BBCP. BNP Paribas Financial Markets increased its stake 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 worth $31,000 after purchasing an additional 2,187 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Concrete Pumping in the first quarter valued at approximately $54,000. Strs Ohio purchased a new position in Concrete Pumping during the first quarter valued at approximately $62,000. Verition Fund Management LLC purchased a new position in Concrete Pumping during the fourth quarter valued at approximately $69,000. Finally, OakTrust Wealth Advisors LLC bought a new stake in Concrete Pumping during the 4th quarter worth approximately $71,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Company Profile

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.