Concrete Pumping (NASDAQ:BBCP) Stock Rating Upgraded by Zacks Research

Concrete Pumping (NASDAQ:BBCP) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Robert W. Baird upped their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Concrete Pumping Trading Down 6.2%

BBCP stock opened at $11.11 on Wednesday. Concrete Pumping has a 1-year low of $5.55 and a 1-year high of $12.19. The firm has a market cap of $559.87 million, a P/E ratio of 79.36 and a beta of 0.84. The business’s 50 day moving average is $9.07 and its 200-day moving average is $7.61. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.59.

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

Insider Activity at Concrete Pumping

In related news, CFO Iain Humphries sold 96,955 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the sale, the chief financial officer directly owned 377,812 shares in the company, valued at $4,076,591.48. This represents a 20.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brent M. Stevens sold 100,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total value of $1,065,000.00. Following the sale, the director directly owned 597,155 shares of the company’s stock, valued at $6,359,700.75. This represents a 14.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,955 shares of company stock worth $2,643,644 over the last three months. 28.20% of the stock is owned by company insiders.

Institutional Trading of Concrete Pumping

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake 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 valued at $31,000 after buying an additional 2,187 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Concrete Pumping during the 1st quarter worth about $54,000. Strs Ohio bought a new stake in Concrete Pumping during the 1st quarter worth about $62,000. Verition Fund Management LLC bought a new stake in Concrete Pumping during the 4th quarter worth about $69,000. Finally, OakTrust Wealth Advisors LLC bought a new stake in Concrete Pumping during the 4th quarter worth about $71,000. 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.