Wall Street Zen downgraded shares of Concrete Pumping (NASDAQ:BBCP – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
Several other research firms have also recently commented on BBCP. Weiss Ratings upgraded 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. Robert W. Baird increased their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Finally, Zacks Research lowered shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.
View Our Latest Research Report on BBCP
Concrete Pumping Price Performance
Concrete Pumping (NASDAQ:BBCP – Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $96.71 million. Equities analysts forecast that Concrete Pumping will post 0.17 EPS for the current fiscal year.
Insider Activity at Concrete Pumping
In related news, Director Brent M. Stevens sold 97,700 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $10.83, for a total value of $1,058,091.00. Following the completion of the sale, the director owned 497,155 shares of the company’s stock, valued at approximately $5,384,188.65. The trade was a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Iain Humphries sold 96,955 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the transaction, the chief financial officer owned 377,812 shares in the company, valued at $4,076,591.48. This represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 346,955 shares of company stock valued at $3,726,529. 28.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. North Star Investment Management Corp. bought a new position in Concrete Pumping during the first quarter valued at about $885,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Concrete Pumping in the second quarter worth about $5,901,000. Seven Six Capital Management LLC boosted its stake in shares of Concrete Pumping by 10.7% during the 4th quarter. Seven Six Capital Management LLC now owns 483,469 shares of the company’s stock worth $3,244,000 after acquiring an additional 46,914 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Concrete Pumping during the 1st quarter worth about $345,000. Finally, Aristides Capital LLC increased its holdings in shares of Concrete Pumping by 89.6% during the 1st quarter. Aristides Capital LLC now owns 188,473 shares of the company’s stock valued at $1,346,000 after acquiring an additional 89,081 shares during 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.
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