Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Receives $10.25 Consensus Target Price from Analysts

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has received an average recommendation of “Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.25.

A number of equities analysts have recently commented on BBCP shares. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research upgraded Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Finally, Robert W. Baird raised their price objective on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, June 9th.

Insider Activity at Concrete Pumping

In other news, Director Brent M. Stevens sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 597,155 shares in the company, valued at approximately $6,359,700.75. The trade was a 14.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 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 Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Concrete Pumping by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock valued at $14,869,000 after acquiring an additional 81,318 shares during the period. Royce & Associates LP increased its stake in Concrete Pumping by 1.1% in the 4th quarter. Royce & Associates LP now owns 1,787,807 shares of the company’s stock worth $11,996,000 after purchasing an additional 20,166 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Concrete Pumping by 3.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 617,887 shares of the company’s stock worth $4,146,000 after purchasing an additional 19,171 shares during the period. Bridgeway Capital Management LLC lifted its position in Concrete Pumping by 0.9% in the second quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company’s stock valued at $3,628,000 after purchasing an additional 5,224 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Concrete Pumping by 11.3% in the fourth quarter. First Eagle Investment Management LLC now owns 539,689 shares of the company’s stock valued at $3,621,000 after purchasing an additional 54,784 shares during the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Concrete Pumping Stock Performance

NASDAQ:BBCP opened at $9.74 on Thursday. The stock has a market cap of $490.80 million, a P/E ratio of 69.57 and a beta of 0.84. 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 business’s 50-day moving average price is $10.21 and its two-hundred day moving average price is $8.10. Concrete Pumping has a twelve month low of $5.55 and a twelve month high of $12.19.

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). The company had revenue of $106.80 million during 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%. As a group, equities analysts predict that Concrete Pumping will post 0.17 EPS for the current fiscal year.

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.