Concrete Pumping (NASDAQ:BBCP) Upgraded at Texas Capital

Texas Capital upgraded shares of Concrete Pumping (NASDAQ:BBCP) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird upped their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, June 9th. Zacks Research raised Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $10.25.

Concrete Pumping Price Performance

NASDAQ:BBCP opened at $10.92 on Tuesday. Concrete Pumping has a 1-year low of $5.55 and a 1-year high of $12.19. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.59. The firm has a fifty day simple moving average of $9.98 and a 200 day simple moving average of $8.01. The stock has a market capitalization of $550.26 million, a PE ratio of 78.00 and a beta of 0.84.

Concrete Pumping (NASDAQ:BBCP) last issued 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). The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. On average, research analysts expect that Concrete Pumping will post 0.17 EPS for the current fiscal year.

Insider Transactions at Concrete Pumping

In other news, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the sale, the chief financial officer owned 377,812 shares in the company, valued at approximately $4,076,591.48. This trade represents a 20.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brent M. Stevens sold 97,700 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were 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 owned 497,155 shares in the company, valued at approximately $5,384,188.65. This trade represents a 16.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 346,955 shares of company stock valued at $3,726,529. 28.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Concrete Pumping

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Concrete Pumping by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock worth $14,869,000 after purchasing an additional 81,318 shares during the period. Royce & Associates LP boosted its stake in Concrete Pumping by 1.1% in the 4th 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. boosted its stake in Concrete Pumping by 3.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 617,887 shares of the company’s stock valued at $4,146,000 after purchasing an additional 19,171 shares during the period. Bridgeway Capital Management LLC boosted its stake in Concrete Pumping by 0.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company’s stock valued at $3,628,000 after purchasing an additional 5,224 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings 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 valued at $3,621,000 after buying an additional 54,784 shares in the last quarter. Institutional investors and hedge funds 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.