Concrete Pumping (NASDAQ:BBCP) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Concrete Pumping (NASDAQ:BBCP) from a sell rating to a hold rating in a report published on Monday, 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. “

Other analysts have also issued research reports about the company. Stifel Nicolaus lowered Asante Solutions to a buy rating and set a $9.00 price target for the company. in a research note on Thursday, May 23rd. Robert W. Baird initiated coverage on TJX Companies in a research note on Monday, May 13th. They issued an outperform rating and a $63.00 price target for the company. William Blair initiated coverage on Concrete Pumping in a research note on Friday, May 17th. They issued an outperform rating and a $5.31 price target for the company. Finally, ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $8.33.

Shares of BBCP stock opened at $5.04 on Monday. The business has a fifty day simple moving average of $4.89. Concrete Pumping has a 52 week low of $3.64 and a 52 week high of $15.25. The stock has a market capitalization of $304.38 million, a price-to-earnings ratio of 2.04 and a beta of 0.70. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.57 and a quick ratio of 0.53.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings results on Monday, June 10th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.39). The company 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 EPS for the current year.

In other news, CEO Bruce F. Young acquired 200,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $4.50 per share, for a total transaction of $900,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Argand Partners, Lp acquired 1,625,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $4.50 per share, with a total value of $7,312,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,861,716 shares of company stock valued at $8,396,072.

An institutional investor recently bought a new position in Concrete Pumping stock. Millennium Management LLC acquired a new position in Concrete Pumping Holdings Inc (NASDAQ:BBCP) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 83,537 shares of the company’s stock, valued at approximately $688,000. Millennium Management LLC owned approximately 0.29% of Concrete Pumping at the end of the most recent quarter. 4.28% of the stock is owned by institutional investors and hedge funds.

Concrete Pumping Company Profile

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.

Read More: How is a buy-side analyst different from a sell-side analyst?

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