DA Davidson Issues Pessimistic Forecast for Concrete Pumping (NASDAQ:BBCP) Stock Price

Concrete Pumping (NASDAQ:BBCP) had its price target lowered by analysts at DA Davidson from $9.50 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 75.20% from the company’s current price.

Separately, Robert W. Baird cut their price target on Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.44.

Concrete Pumping Stock Performance

Shares of NASDAQ BBCP traded down $0.90 during trading hours on Wednesday, hitting $5.14. 277,819 shares of the stock were exchanged, compared to its average volume of 118,242. The firm has a market capitalization of $272.28 million, a P/E ratio of 19.62 and a beta of 1.25. The company’s 50 day moving average is $7.39 and its 200 day moving average is $6.55. Concrete Pumping has a one year low of $4.79 and a one year high of $9.68. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89.

Concrete Pumping (NASDAQ:BBCP) last released its earnings results on Wednesday, January 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. On average, research analysts expect that Concrete Pumping will post 0.43 EPS for the current year.

Institutional Investors Weigh In On Concrete Pumping

Large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in shares of Concrete Pumping in the 4th quarter valued at approximately $55,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Concrete Pumping in the fourth quarter valued at approximately $75,000. MetLife Investment Management LLC increased its position in shares of Concrete Pumping by 54.0% during the fourth quarter. MetLife Investment Management LLC now owns 11,202 shares of the company’s stock worth $75,000 after acquiring an additional 3,928 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Concrete Pumping during the fourth quarter worth $81,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Concrete Pumping by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock worth $93,000 after acquiring an additional 3,042 shares during the period. 34.20% of the stock is currently owned by institutional investors.

About Concrete Pumping

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 Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.