Cubist Systematic Strategies LLC acquired a new stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,378 shares of the company’s stock, valued at approximately $26,000.
Several other institutional investors and hedge funds have also modified their holdings of BBCP. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Concrete Pumping during the second quarter valued at approximately $42,000. Quadrature Capital Ltd purchased a new position in shares of Concrete Pumping during the first quarter valued at approximately $180,000. Hsbc Holdings PLC raised its stake in Concrete Pumping by 39.1% during the second quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock worth $195,000 after purchasing an additional 8,866 shares during the period. Rhumbline Advisers raised its stake in Concrete Pumping by 4.4% during the second quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock worth $230,000 after purchasing an additional 1,623 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Concrete Pumping by 5.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,900 shares of the company’s stock worth $432,000 after purchasing an additional 3,650 shares during the period. Hedge funds and other institutional investors own 34.20% of the company’s stock.
Analyst Ratings Changes
BBCP has been the topic of a number of recent analyst reports. DA Davidson cut their price target on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Robert W. Baird cut their price target on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, UBS Group downgraded shares of Concrete Pumping from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.50 to $6.25 in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.55.
Concrete Pumping Price Performance
Concrete Pumping stock opened at $5.76 on Thursday. Concrete Pumping Holdings, Inc. has a 52-week low of $5.05 and a 52-week high of $8.83. The firm has a fifty day moving average of $5.89 and a 200-day moving average of $6.44. The firm has a market capitalization of $311.73 million, a P/E ratio of 18.58 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.19.
Concrete Pumping (NASDAQ:BBCP – Get Free Report) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). Concrete Pumping had a return on equity of 6.17% and a net margin of 3.72%. The business had revenue of $109.62 million during the quarter, compared to analyst estimates of $126.10 million. During the same period in the previous year, the company earned $0.17 EPS. As a group, analysts predict that Concrete Pumping Holdings, Inc. will post 0.27 EPS for the current year.
Concrete Pumping Profile
Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.
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