Zacks Research Upgrades Concrete Pumping (NASDAQ:BBCP) to Strong-Buy

Concrete Pumping (NASDAQ:BBCP) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered Concrete Pumping from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.00.

Concrete Pumping Stock Up 1.0%

BBCP stock opened at $9.36 on Wednesday. Concrete Pumping has a fifty-two week low of $5.55 and a fifty-two week high of $12.19. The company’s 50 day moving average price is $9.61 and its 200 day moving average price is $9.38. The firm has a market capitalization of $471.65 million, a price-to-earnings ratio of 57.94 and a beta of 0.88. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.60 and a current ratio of 1.71.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $116.77 million during the quarter, compared to analysts’ expectations of $110.19 million. Concrete Pumping had a net margin of 2.45% and a return on equity of 3.91%. On average, equities research analysts anticipate that Concrete Pumping will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in shares of Concrete Pumping by 20.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,936 shares of the company’s stock worth $134,000 after purchasing an additional 2,396 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Concrete Pumping by 126.1% in the 2nd quarter. Squarepoint Ops LLC now owns 75,644 shares of the company’s stock valued at $912,000 after purchasing an additional 42,190 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Concrete Pumping by 7.3% in the second quarter. Hsbc Holdings PLC now owns 49,586 shares of the company’s stock valued at $597,000 after purchasing an additional 3,364 shares during the period. Empowered Funds LLC acquired a new stake in shares of Concrete Pumping in the second quarter valued at about $3,738,000. Finally, Bank of America Corp DE acquired a new stake in shares of Concrete Pumping in the second quarter valued at about $1,441,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) provides concrete pumping and related services for commercial, residential, infrastructure, and industrial construction projects. Through its Brundage-Bone Concrete Pumping operations, the company uses truck-mounted and trailer-mounted concrete pumps to place concrete in locations that may be difficult or inefficient to reach with conventional methods.

The company also provides concrete waste-management services through its Eco-Pan business.