Concrete Pumping (NASDAQ:BBCP) Stock Rating Upgraded by Wall Street Zen

Concrete Pumping (NASDAQ:BBCP) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of Concrete Pumping from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Concrete Pumping in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.25.

Concrete Pumping Stock Performance

NASDAQ BBCP opened at $6.83 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.17 and a quick ratio of 2.03. Concrete Pumping has a 1-year low of $5.03 and a 1-year high of $7.80. The business has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $6.68. The stock has a market capitalization of $347.31 million, a PE ratio of 75.89 and a beta of 1.08.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $90.56 million for the quarter, compared to analysts’ expectations of $84.82 million. Concrete Pumping had a return on equity of 2.50% and a net margin of 1.65%. On average, research analysts predict that Concrete Pumping will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Concrete Pumping

Several hedge funds have recently bought and sold shares of BBCP. Dimensional Fund Advisors LP increased its stake in Concrete Pumping by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,001,474 shares of the company’s stock worth $13,431,000 after purchasing an additional 58,767 shares during the period. Royce & Associates LP boosted its stake in shares of Concrete Pumping by 1.1% during the fourth quarter. Royce & Associates LP now owns 1,787,807 shares of the company’s stock valued at $11,996,000 after purchasing an additional 20,166 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Concrete Pumping by 3.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 617,887 shares of the company’s stock worth $4,146,000 after purchasing an additional 19,171 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Concrete Pumping by 0.9% in the second quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company’s stock worth $3,628,000 after purchasing an additional 5,224 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Concrete Pumping by 11.3% in the 4th quarter. First Eagle Investment Management LLC now owns 539,689 shares of the company’s stock worth $3,621,000 after buying an additional 54,784 shares during the period. 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.