Concrete Pumping (NASDAQ:BBCP) Sees Large Volume Increase – Here’s Why

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) shares saw unusually-high trading volume on Monday . Approximately 216,526 shares traded hands during trading, an increase of 23% from the previous session’s volume of 176,680 shares.The stock last traded at $10.2750 and had previously closed at $10.43.

Analyst Upgrades and Downgrades

Several research analysts have commented on BBCP shares. Robert W. Baird boosted their target price on Concrete Pumping from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Concrete Pumping in a research note on Friday, April 10th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Concrete Pumping currently has a consensus rating of “Hold” and an average price target of $8.25.

Concrete Pumping Stock Performance

The firm has a market cap of $543.20 million, a P/E ratio of 76.57 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The company’s 50 day moving average is $7.60 and its 200 day moving average is $6.97.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. As a group, equities analysts predict that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Concrete Pumping

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG increased its position in Concrete Pumping by 64.0% in the 3rd quarter. Raiffeisen Bank International AG now owns 254,785 shares of the company’s stock valued at $1,796,000 after acquiring an additional 99,395 shares during the period. Royce & Associates LP increased its position in Concrete Pumping by 5.4% in the 3rd quarter. Royce & Associates LP now owns 1,767,641 shares of the company’s stock valued at $12,462,000 after acquiring an additional 90,516 shares during the period. GSA Capital Partners LLP increased its position in Concrete Pumping by 13.8% in the 3rd quarter. GSA Capital Partners LLP now owns 83,790 shares of the company’s stock valued at $591,000 after acquiring an additional 10,185 shares during the period. North Star Investment Management Corp. acquired a new position in Concrete Pumping in the 1st quarter valued at approximately $885,000. Finally, OakTrust Wealth Advisors LLC acquired a new position in Concrete Pumping in the 4th quarter valued at approximately $71,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

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.