Concrete Pumping (NASDAQ:BBCP) Stock Rating Cut to Hold at Wall Street Zen

Concrete Pumping (NASDAQ:BBCP) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

BBCP has been the subject of a number of other reports. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Zacks Research upgraded Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 21st. Finally, Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $12.00.

Concrete Pumping Stock Down 1.9%

Shares of BBCP stock opened at $10.07 on Friday. Concrete Pumping has a 12 month low of $5.55 and a 12 month high of $12.19. The firm has a market cap of $507.43 million, a PE ratio of 62.94 and a beta of 0.90. The stock has a 50 day moving average of $9.82 and a 200-day moving average of $8.80. The company has a quick ratio of 1.60, a current ratio of 1.71 and a debt-to-equity ratio of 1.56.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Concrete Pumping had a net margin of 2.45% and a return on equity of 3.91%. The business had revenue of $116.77 million for the quarter, compared to the consensus estimate of $110.19 million. On average, equities analysts predict that Concrete Pumping will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Concrete Pumping

Several institutional investors and hedge funds have recently made changes to their positions in BBCP. Empowered Funds LLC boosted its position in Concrete Pumping by 8.4% in the 3rd quarter. Empowered Funds LLC now owns 336,265 shares of the company’s stock valued at $3,258,000 after buying an additional 26,023 shares during the last quarter. Royce & Associates LP raised its position in shares of Concrete Pumping by 1.3% during the third quarter. Royce & Associates LP now owns 760,202 shares of the company’s stock worth $7,366,000 after acquiring an additional 10,000 shares during the last quarter. Keybank National Association OH lifted its stake in shares of Concrete Pumping by 43.9% during the third quarter. Keybank National Association OH now owns 19,174 shares of the company’s stock valued at $186,000 after acquiring an additional 5,850 shares during the period. Vise Technologies Inc. lifted its stake in shares of Concrete Pumping by 18.0% during the third quarter. Vise Technologies Inc. now owns 14,578 shares of the company’s stock valued at $141,000 after acquiring an additional 2,225 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Concrete Pumping by 20.8% in the third quarter. State of Alaska Department of Revenue now owns 13,936 shares of the company’s stock valued at $134,000 after acquiring an additional 2,396 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc. provides concrete pumping and related services through its Brundage-Bone, Camfaud and Eco-Pan businesses. Its concrete pumping operations serve construction projects by transporting and placing concrete using equipment such as boom pumps, line pumps and truck-mounted conveyors. The company serves customers in the United States and the United Kingdom. Its Eco-Pan business provides concrete washout services, collecting and managing concrete waste at construction sites and helping customers meet environmental and site-safety requirements.