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

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

Several other equities research analysts also recently weighed in on 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 lifted their price target on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Texas Capital upgraded shares of Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Concrete Pumping has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Concrete Pumping Trading Down 1.3%

Shares of Concrete Pumping stock opened at $9.74 on Tuesday. The firm’s 50 day moving average is $10.43 and its 200 day moving average is $8.20. The firm has a market capitalization of $490.83 million, a PE ratio of 69.57 and a beta of 0.86. Concrete Pumping has a 1 year low of $5.55 and a 1 year high of $12.19. 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 issued 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). The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. Equities research analysts forecast that Concrete Pumping will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Concrete Pumping

In other news, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the sale, the chief financial officer directly owned 377,812 shares in the company, valued at $4,076,591.48. This trade represents a 20.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brent M. Stevens sold 97,700 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $10.83, for a total value of $1,058,091.00. Following the completion of the sale, the director directly owned 497,155 shares of the company’s stock, valued at $5,384,188.65. The trade was a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 346,955 shares of company stock valued at $3,726,529. Insiders own 28.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Concrete Pumping by 5.7% during the first quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock valued at $878,000 after acquiring an additional 8,620 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Concrete Pumping in the 1st quarter worth $78,000. Empowered Funds LLC lifted its holdings in shares of Concrete Pumping by 3.7% in the 1st quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock worth $1,757,000 after purchasing an additional 11,605 shares in the last quarter. Jane Street Group LLC grew its position in Concrete Pumping by 166.4% in the 1st quarter. Jane Street Group LLC now owns 31,906 shares of the company’s stock valued at $174,000 after purchasing an additional 19,929 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Concrete Pumping in the 1st quarter valued at $54,000. 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.