Concrete Pumping (NASDAQ:BBCP) Shares Up 4.4%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)’s stock price shot up 4.4% during trading on Friday . The company traded as high as $8.87 and last traded at $8.87. 1,847 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 178,837 shares. The stock had previously closed at $8.50.

A number of research firms recently commented on BBCP. Zacks Investment Research upgraded Concrete Pumping from a “sell” rating to a “hold” rating in a research report on Wednesday, August 18th. Robert W. Baird reiterated a “buy” rating and issued a $11.00 target price on shares of Concrete Pumping in a research report on Sunday, September 12th. Finally, UBS Group upgraded Concrete Pumping from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $11.00 in a research report on Friday, June 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Concrete Pumping has an average rating of “Buy” and a consensus target price of $8.35.

The company has a 50 day simple moving average of $8.44 and a two-hundred day simple moving average of $8.04. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $498.59 million, a P/E ratio of -20.49 and a beta of 1.21.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data on Tuesday, September 7th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.04). Concrete Pumping had a positive return on equity of 1.17% and a negative net margin of 6.76%. During the same period in the prior year, the firm earned $0.04 EPS. As a group, research analysts expect that Concrete Pumping Holdings, Inc. will post 0.41 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBCP. UBS Group AG grew its stake in shares of Concrete Pumping by 122.2% during the first quarter. UBS Group AG now owns 5,768 shares of the company’s stock valued at $43,000 after buying an additional 3,172 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Concrete Pumping during the second quarter valued at approximately $60,000. Cubist Systematic Strategies LLC bought a new position in shares of Concrete Pumping during the first quarter valued at approximately $84,000. Occudo Quantitative Strategies LP bought a new position in shares of Concrete Pumping during the second quarter valued at approximately $99,000. Finally, BNP Paribas Arbitrage SA raised its position in Concrete Pumping by 32.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,850 shares of the company’s stock valued at $103,000 after purchasing an additional 3,419 shares in the last quarter. 31.28% of the stock is currently owned by hedge funds and other institutional investors.

About Concrete Pumping (NASDAQ:BBCP)

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.

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