Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Receives Consensus Rating of “Moderate Buy” from Analysts

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.25.

BBCP has been the subject of several research reports. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Robert W. Baird lifted their target price on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, June 9th. Zacks Research downgraded Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Texas Capital raised Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st.

Insider Buying and Selling

In related news, Director Brent M. Stevens sold 97,700 shares of Concrete Pumping stock in a transaction that occurred on 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 transaction, the director owned 497,155 shares in the company, valued at $5,384,188.65. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Iain Humphries sold 96,955 shares of the business’s 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 transaction, the chief financial officer owned 377,812 shares of the company’s stock, valued at $4,076,591.48. This trade 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 90 days. Insiders own 28.20% of the company’s stock.

Institutional Investors Weigh In On Concrete Pumping

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Concrete Pumping in the second quarter valued at $16,061,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Concrete Pumping during the 2nd quarter worth about $5,901,000. JB Capital Partners LP acquired a new position in shares of Concrete Pumping during the 2nd quarter worth about $4,113,870,000. Empowered Funds LLC acquired a new position in shares of Concrete Pumping during the 2nd quarter worth about $3,738,000. Finally, Algert Global LLC purchased a new position in shares of Concrete Pumping in the 2nd quarter valued at about $2,848,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Concrete Pumping Price Performance

Shares of BBCP opened at $9.32 on Monday. The company’s 50-day simple moving average is $10.45 and its 200-day simple moving average is $8.49. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. Concrete Pumping has a 1 year low of $5.55 and a 1 year high of $12.19. The stock has a market capitalization of $469.63 million, a PE ratio of 66.57 and a beta of 0.86.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. Analysts forecast that Concrete Pumping will post 0.17 earnings per share 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.