Concrete Pumping (NASDAQ:BBCP) Shares Gap Up – What’s Next?

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) shares gapped up prior to trading on Friday . The stock had previously closed at $7.98, but opened at $11.31. Concrete Pumping shares last traded at $11.4080, with a volume of 1,253,923 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Concrete Pumping in a research report on Friday, April 10th. Robert W. Baird increased their target price on shares of Concrete Pumping from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, March 11th. Finally, Wall Street Zen lowered shares of Concrete Pumping from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Concrete Pumping presently has an average rating of “Hold” and an average price target of $8.25.

Concrete Pumping Stock Performance

The company has a current ratio of 1.96, a quick ratio of 1.82 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $7.53 and its two-hundred day moving average price is $6.94. The company has a market cap of $575.32 million, a P/E ratio of 128.28 and a beta of 0.94.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings data 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 1.65% and a return on equity of 2.50%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million. As a group, equities analysts forecast that Concrete Pumping Holdings, Inc. will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Concrete Pumping

Several large investors have recently made changes to their positions in BBCP. Occudo Quantitative Strategies LP boosted its holdings 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 worth $83,000 after buying an additional 1,825 shares during the period. Deutsche Bank AG boosted its holdings in shares of Concrete Pumping by 9.2% in the fourth quarter. Deutsche Bank AG now owns 24,345 shares of the company’s stock worth $163,000 after buying an additional 2,049 shares during the period. Jane Street Group LLC lifted its position in shares of Concrete Pumping by 6.4% in the second quarter. Jane Street Group LLC now owns 33,962 shares of the company’s stock worth $209,000 after purchasing an additional 2,056 shares in the last quarter. BNP Paribas Financial Markets lifted its position 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. Finally, First Trust Advisors LP lifted its position in shares of Concrete Pumping by 4.2% in the second quarter. First Trust Advisors LP now owns 77,067 shares of the company’s stock worth $474,000 after purchasing an additional 3,076 shares in the last quarter. Institutional investors 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.