Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.25.

A number of brokerages have recently issued reports on BBCP. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research cut shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Robert W. Baird increased their price objective 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. Texas Capital upgraded shares of Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th.

Concrete Pumping Stock Performance

Shares of NASDAQ:BBCP opened at $9.60 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. Concrete Pumping has a 1 year low of $5.55 and a 1 year high of $12.19. The company has a market cap of $483.74 million, a P/E ratio of 68.57 and a beta of 0.86. The stock’s fifty day moving average price is $10.61 and its 200-day moving average price is $8.37.

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

Insider Buying and Selling at Concrete Pumping

In related news, Director Brent M. Stevens sold 100,000 shares of the company’s 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Iain Humphries sold 96,955 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the transaction, the chief financial officer directly owned 377,812 shares in the company, valued at approximately $4,076,591.48. This represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 346,955 shares of company stock worth $3,726,529 over the last three months. Insiders own 28.20% of the company’s stock.

Institutional Investors Weigh In On Concrete Pumping

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Concrete Pumping in the second quarter worth approximately $16,061,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Concrete Pumping during the second quarter valued at approximately $5,901,000. JB Capital Partners LP purchased a new stake in Concrete Pumping during the second quarter valued at approximately $4,113,870,000. Algert Global LLC bought a new position in Concrete Pumping in the second quarter worth approximately $2,848,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Concrete Pumping in the second quarter worth approximately $1,680,000. 34.20% of the stock is currently owned by 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.