Concrete Pumping (NASDAQ:BBCP) Rating Increased to Strong-Buy at Texas Capital

Concrete Pumping (NASDAQ:BBCP) was upgraded by Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

BBCP has been the topic of several other reports. Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research upgraded Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Robert W. Baird increased their price target on Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.25.

Concrete Pumping Price Performance

NASDAQ:BBCP opened at $10.82 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. The company has a 50 day moving average price of $9.90 and a 200-day moving average price of $7.99. Concrete Pumping has a 1-year low of $5.55 and a 1-year high of $12.19. The firm has a market cap of $545.22 million, a price-to-earnings ratio of 77.29 and a beta of 0.84.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly 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). The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. Equities research analysts forecast that Concrete Pumping will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Concrete Pumping news, CFO Iain Humphries sold 96,955 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the transaction, the chief financial officer directly owned 377,812 shares of the company’s stock, valued at $4,076,591.48. This trade represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brent M. Stevens sold 100,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the sale, the director directly owned 597,155 shares of the company’s stock, valued at $6,359,700.75. This represents a 14.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 346,955 shares of company stock valued at $3,726,529 over the last 90 days. 28.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Concrete Pumping

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after acquiring an additional 2,187 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Concrete Pumping in the 1st quarter valued at $54,000. Strs Ohio purchased a new position in Concrete Pumping in the 1st quarter valued at $62,000. Verition Fund Management LLC acquired a new stake in Concrete Pumping during the 4th quarter worth $69,000. Finally, OakTrust Wealth Advisors LLC acquired a new stake in Concrete Pumping during the 4th quarter worth $71,000. Hedge funds and other institutional investors 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.