Wall Street Zen Downgrades Concrete Pumping (NASDAQ:BBCP) to Hold

by · The Cerbat Gem

Concrete Pumping (NASDAQ:BBCP – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

BBCP has been the subject of several other research reports. 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 research report on Tuesday, June 9th. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st. Zacks Research cut shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Concrete Pumping currently has an average rating of “Moderate Buy” and an average target price of $10.25.

Read Our Latest Stock Analysis on Concrete Pumping

Concrete Pumping Stock Performance

Shares of BBCP opened at $9.21 on Friday. The company has a 50-day simple moving average of $10.30 and a two-hundred day simple moving average of $8.60. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. The firm has a market capitalization of $464.09 million, a PE ratio of 65.79 and a beta of 0.86. Concrete Pumping has a one year low of $5.55 and a one year high of $12.19.

Concrete Pumping (NASDAQ:BBCP – Get Free Report) last posted its earnings results 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). Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%.The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $96.71 million. On average, analysts anticipate that Concrete Pumping will post 0.17 EPS for the current fiscal year.

Insider Activity at Concrete Pumping

In related news, Director Brent M. Stevens sold 97,700 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the completion of the transaction, the director directly owned 497,155 shares in the company, valued at approximately $5,384,188.65. The trade was a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Iain Humphries sold 96,955 shares of the firm’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 sale, the chief financial officer owned 377,812 shares in the company, valued at approximately $4,076,591.48. The trade was 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 valued at $3,726,529 over the last 90 days. 28.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. purchased a new position in shares of Concrete Pumping in the first quarter valued at about $885,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Concrete Pumping during the second quarter worth about $5,901,000. Seven Six Capital Management LLC raised its stake in Concrete Pumping by 10.7% during the 4th quarter. Seven Six Capital Management LLC now owns 483,469 shares of the company’s stock valued at $3,244,000 after purchasing an additional 46,914 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Concrete Pumping during the 2nd quarter valued at approximately $1,680,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Concrete Pumping during the 1st quarter valued at approximately $345,000. 34.20% of the stock is currently owned by institutional investors.

Concrete Pumping Company Profile

(Get Free Report)

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.

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