Concrete Pumping (NASDAQ:BBCP) Price Target Raised to $8.00

Concrete Pumping (NASDAQ:BBCP) had its target price lifted by Robert W. Baird from $7.50 to $8.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Concrete Pumping in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Concrete Pumping presently has a consensus rating of “Hold” and an average target price of $8.25.

Concrete Pumping Trading Down 2.0%

NASDAQ:BBCP opened at $6.83 on Wednesday. Concrete Pumping has a 52 week low of $5.03 and a 52 week high of $7.80. The firm has a 50 day moving average of $6.57 and a 200 day moving average of $6.68. The company has a quick ratio of 2.03, a current ratio of 2.17 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $347.31 million, a price-to-earnings ratio of 75.89 and a beta of 1.08.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $90.56 million for the quarter, compared to analyst estimates of $84.82 million. Concrete Pumping had a net margin of 1.65% and a return on equity of 2.50%. As a group, sell-side analysts anticipate that Concrete Pumping will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Concrete Pumping

Several large investors have recently bought and sold shares of BBCP. AMH Equity Ltd acquired a new position in Concrete Pumping during the 3rd quarter valued at approximately $705,000. Raiffeisen Bank International AG lifted its stake in shares of Concrete Pumping by 64.0% during the third quarter. Raiffeisen Bank International AG now owns 254,785 shares of the company’s stock worth $1,796,000 after buying an additional 99,395 shares during the period. Royce & Associates LP grew its holdings in shares of Concrete Pumping by 5.4% during the third quarter. Royce & Associates LP now owns 1,767,641 shares of the company’s stock valued at $12,462,000 after buying an additional 90,516 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Concrete Pumping by 13.8% during the third quarter. GSA Capital Partners LLP now owns 83,790 shares of the company’s stock valued at $591,000 after buying an additional 10,185 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Concrete Pumping in the 3rd quarter valued at $311,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

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.