ValuEngine Lowers Concrete Pumping (NASDAQ:BBCP) to Hold

ValuEngine lowered shares of Concrete Pumping (NASDAQ:BBCP) from a buy rating to a hold rating in a research report released on Saturday, ValuEngine reports.

Other research analysts also recently issued reports about the stock. Robert W. Baird downgraded shares of Concrete Pumping from an outperform rating to a neutral rating and lowered their price target for the stock from $5.00 to $3.00 in a report on Tuesday, March 24th. DA Davidson lowered their target price on Concrete Pumping from $4.50 to $4.00 and set a neutral rating for the company in a report on Tuesday, May 19th. Stifel Nicolaus lifted their price target on Concrete Pumping from $4.50 to $5.25 and gave the company a buy rating in a research note on Wednesday, June 10th. B. Riley restated a neutral rating and set a $3.00 price target (down from $5.00) on shares of Concrete Pumping in a report on Friday, April 3rd. Finally, Zacks Investment Research upgraded shares of Concrete Pumping from a sell rating to a hold rating in a report on Tuesday, March 24th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Concrete Pumping currently has a consensus rating of Hold and an average price target of $3.81.

Concrete Pumping stock opened at $5.48 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The stock has a market cap of $319.05 million, a PE ratio of -4.81 and a beta of 1.19. Concrete Pumping has a 12-month low of $1.82 and a 12-month high of $6.10. The business’s 50-day moving average price is $3.53 and its two-hundred day moving average price is $4.12.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings results on Tuesday, June 9th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($1.06). The company had revenue of $74.04 million for the quarter, compared to the consensus estimate of $73.96 million. Concrete Pumping had a negative net margin of 18.79% and a negative return on equity of 1.07%. As a group, analysts expect that Concrete Pumping will post -0.03 earnings per share for the current year.

In other news, Director David A. B. Brown acquired 18,415 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was bought at an average cost of $2.02 per share, for a total transaction of $37,198.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brent M. Stevens sold 99,484 shares of Concrete Pumping stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.85, for a total transaction of $383,013.40. Following the transaction, the director now directly owns 957,351 shares of the company’s stock, valued at approximately $3,685,801.35. The disclosure for this sale can be found here. Insiders have sold 144,818 shares of company stock valued at $554,937 over the last 90 days. 27.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of BBCP. Alliancebernstein L.P. raised its position in shares of Concrete Pumping by 37.7% in the 1st quarter. Alliancebernstein L.P. now owns 15,700 shares of the company’s stock worth $45,000 after acquiring an additional 4,300 shares in the last quarter. American International Group Inc. grew its stake in Concrete Pumping by 55.8% during the first quarter. American International Group Inc. now owns 15,692 shares of the company’s stock worth $45,000 after purchasing an additional 5,623 shares during the period. Barclays PLC increased its holdings in Concrete Pumping by 100.0% in the fourth quarter. Barclays PLC now owns 16,391 shares of the company’s stock worth $90,000 after purchasing an additional 8,197 shares in the last quarter. UBS Group AG boosted its holdings in shares of Concrete Pumping by 65.2% during the 4th quarter. UBS Group AG now owns 22,996 shares of the company’s stock worth $126,000 after buying an additional 9,079 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Concrete Pumping during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 26.83% of the company’s stock.

About Concrete Pumping

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.

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