Concrete Pumping (NASDAQ:BBCP) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Concrete Pumping (NASDAQ:BBCP) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks reports.

BBCP has been the topic of several other research reports. Wall Street Zen lowered Concrete Pumping from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.00.

Concrete Pumping Stock Up 1.0%

BBCP stock opened at $9.36 on Wednesday. Concrete Pumping has a twelve month low of $5.55 and a twelve month high of $12.19. The company has a market cap of $471.65 million, a PE ratio of 58.50 and a beta of 0.88. The business’s 50-day simple moving average is $9.61 and its 200 day simple moving average is $9.38. The company has a quick ratio of 1.60, a current ratio of 1.71 and a debt-to-equity ratio of 1.56.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $116.77 million for the quarter, compared to analyst estimates of $110.19 million. Concrete Pumping had a return on equity of 3.91% and a net margin of 2.45%. On average, research analysts anticipate that Concrete Pumping will post 0.19 earnings per share for the current year.

Concrete Pumping Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 18th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, September 18th. Concrete Pumping’s payout ratio is 325.00%.

Institutional Trading of Concrete Pumping

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBCP. Dimensional Fund Advisors LP lifted its stake in Concrete Pumping by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock worth $14,869,000 after purchasing an additional 81,318 shares during the period. BlackRock Inc. acquired a new position in shares of Concrete Pumping in the 2nd quarter worth approximately $16,061,000. Seven Six Capital Management LLC raised its holdings in shares of Concrete Pumping by 9.6% in the 1st quarter. Seven Six Capital Management LLC now owns 529,981 shares of the company’s stock worth $3,784,000 after buying an additional 46,512 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Concrete Pumping during the 2nd quarter worth approximately $5,901,000. Finally, JB Capital Partners LP bought a new position in shares of Concrete Pumping during the 2nd quarter worth approximately $4,113,870. Institutional investors own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) provides concrete pumping and related services for commercial, residential, infrastructure, and industrial construction projects. Through its Brundage-Bone Concrete Pumping operations, the company uses truck-mounted and trailer-mounted concrete pumps to place concrete in locations that may be difficult or inefficient to reach with conventional methods.

The company also provides concrete waste-management services through its Eco-Pan business.