Concrete Pumping (NASDAQ:BBCP) Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Concrete Pumping (NASDAQ:BBCP) from a buy rating to a hold rating in a research note published on Saturday, ValuEngine reports.

Several other brokerages have also recently issued reports on BBCP. Zacks Investment Research raised Concrete Pumping from a sell rating to a hold rating in a research report on Tuesday, March 24th. Stifel Nicolaus increased their target price on Concrete Pumping from $4.50 to $5.25 and gave the company a buy rating in a research report on Wednesday, June 10th. B. Riley reaffirmed a neutral rating and set a $3.00 target price (down previously from $5.00) on shares of Concrete Pumping in a research report on Friday, April 3rd. DA Davidson dropped their target price on Concrete Pumping from $4.50 to $4.00 and set a neutral rating on the stock in a research report on Tuesday, May 19th. Finally, Robert W. Baird cut Concrete Pumping from an outperform rating to a neutral rating and dropped their target price for the company from $5.00 to $3.00 in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $3.81.

Shares of NASDAQ:BBCP opened at $3.66 on Friday. Concrete Pumping has a 52-week low of $1.82 and a 52-week high of $6.10. The stock has a market cap of $319.05 million, a P/E ratio of -3.21 and a beta of 1.19. The business’s 50 day moving average is $3.59 and its 200 day moving average is $4.12. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Tuesday, June 9th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($1.06). Concrete Pumping had a negative return on equity of 1.07% and a negative net margin of 18.79%. The firm had revenue of $74.04 million during the quarter, compared to the consensus estimate of $73.96 million. On average, sell-side analysts anticipate that Concrete Pumping will post -0.03 EPS for the current fiscal year.

In other Concrete Pumping news, Director David A. B. Brown acquired 18,415 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was purchased at an average price of $2.02 per share, for a total transaction of $37,198.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brent M. Stevens sold 99,484 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.85, for a total value of $383,013.40. Following the sale, the director now owns 957,351 shares of the company’s stock, valued at approximately $3,685,801.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,818 shares of company stock valued at $554,937. Company insiders own 27.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in Concrete Pumping by 47.0% in the 1st quarter. State Street Corp now owns 359,131 shares of the company’s stock worth $1,027,000 after acquiring an additional 114,793 shares during the last quarter. Owl Creek Asset Management L.P. raised its stake in Concrete Pumping by 1.5% in the 1st quarter. Owl Creek Asset Management L.P. now owns 4,595,653 shares of the company’s stock worth $13,144,000 after acquiring an additional 65,888 shares during the last quarter. Geode Capital Management LLC raised its stake in Concrete Pumping by 4.3% in the 1st quarter. Geode Capital Management LLC now owns 345,228 shares of the company’s stock worth $987,000 after acquiring an additional 14,329 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in Concrete Pumping in the 1st quarter worth $57,000. Finally, Alliancebernstein L.P. raised its stake in Concrete Pumping by 37.7% in the 1st quarter. Alliancebernstein L.P. now owns 15,700 shares of the company’s stock worth $45,000 after acquiring an additional 4,300 shares during the last quarter. Institutional investors own 26.83% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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