Concrete Pumping (NASDAQ:BBCP) Sets New 12-Month High – Should You Buy?

Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.07 and last traded at $11.98, with a volume of 95883 shares. The stock had previously closed at $11.86.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BBCP shares. Robert W. Baird increased their target price 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. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One investment 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 currently has an average rating of “Hold” and a consensus target price of $10.25.

Concrete Pumping Trading Up 1.4%

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 stock has a market capitalization of $605.98 million, a P/E ratio of 85.86 and a beta of 0.94. The firm’s 50-day simple moving average is $8.82 and its 200 day simple moving average is $7.51.

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 2.23% and a return on equity of 3.47%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million. Equities research analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Concrete Pumping

In other news, Director Brent M. Stevens sold 100,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the sale, the director owned 597,155 shares in the company, valued at approximately $6,359,700.75. This represents a 14.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer directly 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 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 company insiders.

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds have recently modified their holdings of BBCP. BNP Paribas Financial Markets increased its stake in Concrete Pumping by 97.5% in the 3rd 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 purchased a new stake in Concrete Pumping during the first quarter valued at about $54,000. Strs Ohio acquired a new position in shares of Concrete Pumping in the first quarter worth about $62,000. Verition Fund Management LLC acquired a new position in shares of Concrete Pumping in the fourth quarter worth about $69,000. Finally, OakTrust Wealth Advisors LLC purchased a new position in shares of Concrete Pumping in the fourth 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.