Wall Street Zen Upgrades Concrete Pumping (NASDAQ:BBCP) to Buy

by · The Markets Daily

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

Several other analysts have also recently issued reports on BBCP. Robert W. Baird upped their price objective on shares of Concrete Pumping from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Concrete Pumping in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.25.

Read Our Latest Analysis on Concrete Pumping

Concrete Pumping Trading Down 2.0%

Shares of BBCP stock opened at $6.83 on Friday. Concrete Pumping has a fifty-two week low of $5.03 and a fifty-two week high of $7.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.03 and a current ratio of 2.17. The stock’s fifty day moving average is $6.57 and its two-hundred day moving average is $6.67. The firm has a market capitalization of $347.31 million, a P/E ratio of 75.89 and a beta of 1.07.

Concrete Pumping (NASDAQ:BBCP – Get Free Report) last released its earnings results on Tuesday, March 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $90.56 million during the quarter, compared to analyst estimates of $84.82 million. Concrete Pumping had a net margin of 1.65% and a return on equity of 2.50%. Research analysts expect that Concrete Pumping will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after acquiring an additional 2,187 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Concrete Pumping during the first quarter worth about $54,000. Mercer Global Advisors Inc. ADV purchased a new position in Concrete Pumping during the third quarter worth about $71,000. Verition Fund Management LLC purchased a new position in Concrete Pumping during the fourth quarter worth about $69,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Concrete Pumping in the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

About Concrete Pumping

(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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