Concrete Pumping (NASDAQ:BBCP) Issues Earnings Results, Beats Expectations By $0.01 EPS

Concrete Pumping (NASDAQ:BBCP) posted its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01, Zacks reports. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%.

Concrete Pumping Price Performance

NASDAQ:BBCP traded up $0.17 during mid-day trading on Thursday, reaching $9.05. 342,387 shares of the company were exchanged, compared to its average volume of 198,408. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The stock has a market cap of $456.03 million, a PE ratio of 64.64 and a beta of 0.86. Concrete Pumping has a 12 month low of $5.55 and a 12 month high of $12.19. The company has a fifty day moving average of $10.17 and a 200 day moving average of $8.65.

Analysts Set New Price Targets

BBCP has been the subject of a number of recent research reports. Weiss Ratings cut Concrete Pumping from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Robert W. Baird upped their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, June 9th. Texas Capital upgraded shares of Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st. Wall Street Zen cut shares of Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Zacks Research lowered shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Insider Buying and Selling

In related news, CFO Iain Humphries sold 96,955 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the transaction, the chief financial officer owned 377,812 shares in the company, valued at $4,076,591.48. The trade was a 20.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brent M. Stevens sold 100,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $10.65, for a total value of $1,065,000.00. Following the transaction, the director directly owned 597,155 shares in the company, valued at approximately $6,359,700.75. This represents a 14.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 346,955 shares of company stock worth $3,726,529 over the last quarter. 28.20% of the stock is owned by company insiders.

Institutional Trading of Concrete Pumping

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after acquiring an additional 2,187 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Concrete Pumping in the 1st quarter valued at about $54,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Concrete Pumping in the 3rd quarter valued at approximately $71,000. Verition Fund Management LLC bought a new position in Concrete Pumping during the 4th quarter worth approximately $69,000. Finally, Occudo Quantitative Strategies LP bought a new position in Concrete Pumping during the 3rd quarter worth approximately $74,000. 34.20% of the stock is owned by institutional investors.

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.