Equities research analysts expect that Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) will post sales of $80.81 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Concrete Pumping’s earnings. The highest sales estimate is $81.39 million and the lowest is $80.40 million. Concrete Pumping reported sales of $77.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, September 8th.
According to Zacks, analysts expect that Concrete Pumping will report full-year sales of $310.82 million for the current year, with estimates ranging from $309.70 million to $311.93 million. For the next year, analysts forecast that the business will report sales of $325.99 million, with estimates ranging from $314.78 million to $332.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Concrete Pumping.
A number of brokerages have recently commented on BBCP. UBS Group upgraded shares of Concrete Pumping from a “neutral” rating to a “buy” rating and increased their target price for the company from $6.00 to $11.00 in a research report on Friday, June 25th. Zacks Investment Research upgraded shares of Concrete Pumping from a “sell” rating to a “hold” rating in a research report on Friday, July 2nd. Finally, Robert W. Baird increased their target price on shares of Concrete Pumping from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, June 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.35.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Concrete Pumping by 8.6% during the fourth quarter. BlackRock Inc. now owns 1,546,675 shares of the company’s stock worth $5,923,000 after purchasing an additional 122,922 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Concrete Pumping during the first quarter worth about $9,134,000. Royce & Associates LP increased its position in Concrete Pumping by 19.5% during the first quarter. Royce & Associates LP now owns 1,012,418 shares of the company’s stock worth $7,502,000 after purchasing an additional 165,000 shares during the last quarter. Mountain Lake Investment Management LLC increased its position in Concrete Pumping by 5.3% during the first quarter. Mountain Lake Investment Management LLC now owns 500,000 shares of the company’s stock worth $3,705,000 after purchasing an additional 25,300 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Concrete Pumping by 235.8% during the first quarter. Renaissance Technologies LLC now owns 476,100 shares of the company’s stock worth $3,528,000 after buying an additional 334,300 shares during the period. Hedge funds and other institutional investors own 27.84% of the company’s stock.
Concrete Pumping Company 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 Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.
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