Brokerages Set Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) PT at $10.25

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) has earned a consensus recommendation of “Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.25.

Several analysts recently weighed in on BBCP shares. 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 note on Tuesday, June 9th. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Texas Capital upgraded shares of Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Zacks Research raised shares of Concrete Pumping from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st.

Insider Activity at Concrete Pumping

In other Concrete Pumping news, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the sale, the chief financial officer owned 377,812 shares in the company, valued at $4,076,591.48. This trade represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brent M. Stevens sold 100,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the sale, the director directly owned 597,155 shares in the company, valued at approximately $6,359,700.75. The trade was a 14.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 346,955 shares of company stock valued at $3,726,529. 28.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after purchasing an additional 2,187 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Concrete Pumping during the first quarter worth about $54,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Concrete Pumping in the third quarter valued at approximately $71,000. Verition Fund Management LLC acquired a new position in shares of Concrete Pumping in the fourth quarter valued at approximately $69,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Concrete Pumping in the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Concrete Pumping Stock Down 3.6%

NASDAQ BBCP opened at $10.53 on Thursday. The business has a fifty day moving average price of $10.04 and a two-hundred day moving average price of $8.03. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. Concrete Pumping has a fifty-two week low of $5.55 and a fifty-two week high of $12.19. The stock has a market capitalization of $530.61 million, a PE ratio of 75.21 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). Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million. Equities analysts expect that Concrete Pumping will post 0.17 earnings per share for the current fiscal year.

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.