Concrete Pumping (NASDAQ:BBCP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Concrete Pumping (NASDAQ:BBCP) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “Concrete Pumping Holdings Inc. provides concrete pumping services and concrete waste management services primarily in U.S. and U.K. Concrete Pumping Holdings Inc., formerly known as Industrea Acquisition Corp., is based in New York, United States. “

Several other research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Concrete Pumping from a hold rating to a buy rating in a report on Wednesday, September 4th. B. Riley reiterated a buy rating and set a $7.00 target price on shares of Concrete Pumping in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $7.08.

Shares of Concrete Pumping stock opened at $4.60 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.60. Concrete Pumping has a 1 year low of $3.16 and a 1 year high of $15.25. The firm’s 50-day moving average is $3.80 and its two-hundred day moving average is $4.22. The stock has a market cap of $267.72 million, a price-to-earnings ratio of 1.86 and a beta of 0.78.

Concrete Pumping (NASDAQ:BBCP) last issued its earnings results on Monday, September 16th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). The business had revenue of $78.66 million for the quarter. On average, equities analysts expect that Concrete Pumping will post -0.75 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers purchased a new stake in shares of Concrete Pumping during the third quarter valued at about $53,000. BB&T Securities LLC purchased a new stake in shares of Concrete Pumping during the third quarter valued at about $62,000. Millennium Management LLC lifted its position in shares of Concrete Pumping by 101.6% during the third quarter. Millennium Management LLC now owns 24,180 shares of the company’s stock valued at $95,000 after buying an additional 1,544,180 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Concrete Pumping by 46.5% during the third quarter. California State Teachers Retirement System now owns 25,056 shares of the company’s stock valued at $99,000 after buying an additional 7,950 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Concrete Pumping during the third quarter valued at about $101,000. 26.39% of the stock is owned by institutional investors and hedge funds.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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