Concrete Pumping (BBCP) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Concrete Pumping (NASDAQ:BBCP) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Concrete Pumping Holdings Inc. provides concrete pumping services and concrete waste management services primarily in U.S. and U.K. Concrete Pumping Holdings Inc., formerly known as Industrea Acquisition Corp., is based in New York, United States. “

A number of other research firms have also recently commented on BBCP. William Blair assumed coverage on shares of Concrete Pumping in a report on Friday, May 17th. They issued an outperform rating and a $5.31 price target on the stock. ValuEngine cut shares of Concrete Pumping from a hold rating to a sell rating in a report on Wednesday, May 15th. Finally, Robert W. Baird assumed coverage on shares of Concrete Pumping in a report on Monday, May 13th. They issued an outperform rating and a $7.00 price target on the stock. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $8.33.

NASDAQ BBCP opened at $5.36 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $154.62 million, a PE ratio of 2.17 and a beta of 0.36. Concrete Pumping has a 12 month low of $4.39 and a 12 month high of $15.25.

In other Concrete Pumping news, insider Argand Partners, Lp acquired 1,625,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $4.50 per share, with a total value of $7,312,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bruce F. Young acquired 200,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $4.50 per share, with a total value of $900,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,861,716 shares of company stock worth $8,396,072.

A number of large investors have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd purchased a new position in Concrete Pumping during the first quarter valued at approximately $193,000. ExodusPoint Capital Management LP purchased a new position in Concrete Pumping during the first quarter valued at approximately $137,000. Citigroup Inc. purchased a new position in Concrete Pumping during the first quarter valued at approximately $35,000. Millennium Management LLC purchased a new position in Concrete Pumping during the fourth quarter valued at approximately $688,000. Finally, Owl Creek Asset Management L.P. purchased a new position in Concrete Pumping during the fourth quarter valued at approximately $15,689,000. 7.86% of the stock is owned by institutional investors.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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