Wall Street Zen Downgrades Concrete Pumping (NASDAQ:BBCP) to Hold

Concrete Pumping (NASDAQ:BBCP) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently commented on the company. Robert W. Baird upped their target price on Concrete Pumping from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Concrete Pumping in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.25.

Concrete Pumping Stock Performance

Shares of Concrete Pumping stock opened at $7.74 on Friday. The stock has a market cap of $390.95 million, a PE ratio of 86.00 and a beta of 0.97. The firm has a fifty day moving average price of $7.07 and a 200 day moving average price of $6.70. Concrete Pumping has a 1 year low of $5.55 and a 1 year high of $7.91. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.82.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $90.56 million for the quarter, compared to analyst estimates of $84.82 million. Concrete Pumping had a net margin of 1.65% and a return on equity of 2.50%. Equities research analysts predict that Concrete Pumping will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBCP. Dimensional Fund Advisors LP boosted its stake in shares of Concrete Pumping by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,001,474 shares of the company’s stock worth $13,431,000 after acquiring an additional 58,767 shares in the last quarter. Royce & Associates LP increased its stake in shares of Concrete Pumping by 1.1% in the 4th quarter. Royce & Associates LP now owns 1,787,807 shares of the company’s stock valued at $11,996,000 after purchasing an additional 20,166 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Concrete Pumping by 3.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 617,887 shares of the company’s stock worth $4,146,000 after purchasing an additional 19,171 shares during the period. Bridgeway Capital Management LLC raised its holdings in Concrete Pumping by 0.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company’s stock worth $3,628,000 after purchasing an additional 5,224 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Concrete Pumping by 11.3% during the fourth quarter. First Eagle Investment Management LLC now owns 539,689 shares of the company’s stock worth $3,621,000 after purchasing an additional 54,784 shares in the last quarter. 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.