Concrete Pumping (NASDAQ:BBCP) Director Brent Stevens Sells 100,000 Shares of Stock

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Director Brent Stevens sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Concrete Pumping Stock Performance

Shares of BBCP opened at $11.14 on Friday. The business’s 50 day moving average is $7.91 and its two-hundred day moving average is $7.11. Concrete Pumping Holdings, Inc. has a 52-week low of $5.55 and a 52-week high of $11.98. The firm has a market cap of $562.68 million, a price-to-earnings ratio of 79.57 and a beta of 0.94. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59.

Concrete Pumping (NASDAQ:BBCP) last announced its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share (EPS) 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. Analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Concrete Pumping

A number of institutional investors have recently made changes to their positions in BBCP. BNP Paribas Financial Markets increased its holdings in shares of Concrete Pumping by 97.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after acquiring an additional 2,187 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Concrete Pumping in the 1st quarter valued at approximately $54,000. Strs Ohio bought a new stake in shares of Concrete Pumping in the 1st quarter valued at approximately $62,000. Verition Fund Management LLC bought a new stake in shares of Concrete Pumping in the 4th quarter valued at approximately $69,000. Finally, OakTrust Wealth Advisors LLC bought a new stake in shares of Concrete Pumping in the 4th quarter valued at approximately $71,000. 34.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday. Wall Street Zen raised Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings upgraded Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.25.

Concrete Pumping Company Profile

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.