Concrete Pumping (NASDAQ:BBCP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Concrete Pumping (NASDAQ:BBCP) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Concrete Pumping Holdings Inc. provides concrete pumping services and concrete waste management services primarily in U.S. and U.K. Concrete Pumping Holdings Inc., formerly known as Industrea Acquisition Corp., is based in New York, United States. “

Several other brokerages have also commented on BBCP. William Blair began coverage on Concrete Pumping in a research note on Friday, May 17th. They set an outperform rating and a $5.31 price target on the stock. Robert W. Baird began coverage on TJX Companies in a research note on Monday, May 13th. They set an outperform rating and a $63.00 price target on the stock. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus lowered Asante Solutions to a buy rating and set a $9.00 price target on the stock. in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $8.33.

NASDAQ BBCP opened at $5.40 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.57 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $4.89. Concrete Pumping has a 12-month low of $3.64 and a 12-month high of $15.25. The firm has a market cap of $314.28 million, a PE ratio of 2.19 and a beta of 0.70.

Concrete Pumping (NASDAQ:BBCP) last released its earnings results on Monday, June 10th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.39). The business had revenue of $61.99 million during the quarter, compared to the consensus estimate of $62.97 million. As a group, research analysts predict that Concrete Pumping will post -0.73 earnings per share for the current year.

In other news, Director David A. B. Brown purchased 27,726 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of $4.99 per share, with a total value of $138,352.74. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Argand Partners, Lp purchased 1,625,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $7,312,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,861,716 shares of company stock worth $8,396,072 in the last three months.

An institutional investor recently bought a new position in Concrete Pumping stock. Owl Creek Asset Management L.P. purchased a new position in shares of Concrete Pumping Holdings Inc (NASDAQ:BBCP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,906,318 shares of the company’s stock, valued at approximately $15,689,000. Concrete Pumping makes up approximately 0.5% of Owl Creek Asset Management L.P.’s portfolio, making the stock its 20th biggest position. Owl Creek Asset Management L.P. owned 6.61% of Concrete Pumping at the end of the most recent quarter. Hedge funds and other institutional investors own 4.28% 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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