Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Expands By 15.4%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 377,500 shares, an increase of 15.4% from the October 31st total of 327,100 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 78,500 shares, the short-interest ratio is currently 4.8 days.

Concrete Pumping Stock Performance

NASDAQ BBCP traded up $0.17 during trading hours on Monday, hitting $7.09. 47,776 shares of the stock were exchanged, compared to its average volume of 94,736. The stock has a 50-day moving average of $5.80 and a 200 day moving average of $6.16. Concrete Pumping has a 12-month low of $5.05 and a 12-month high of $8.48. The company has a market cap of $379.55 million, a price-to-earnings ratio of 26.62 and a beta of 1.13. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.19.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The company had revenue of $109.62 million for the quarter, compared to analyst estimates of $126.10 million. Concrete Pumping had a return on equity of 6.17% and a net margin of 3.72%. During the same period last year, the company earned $0.17 earnings per share. As a group, equities research analysts forecast that Concrete Pumping will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Concrete Pumping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mill Road Capital Management LLC lifted its position in Concrete Pumping by 96.8% during the third quarter. Mill Road Capital Management LLC now owns 1,070,405 shares of the company’s stock valued at $6,198,000 after buying an additional 526,379 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Concrete Pumping in the third quarter worth about $2,933,000. Dimensional Fund Advisors LP grew its stake in Concrete Pumping by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock worth $9,322,000 after buying an additional 91,469 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Concrete Pumping during the third quarter worth about $371,000. Finally, Park Avenue Securities LLC increased its holdings in shares of Concrete Pumping by 100.0% in the 2nd quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after acquiring an additional 59,107 shares during the period. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBCP. DA Davidson reduced their price objective on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Thursday, September 5th. Robert W. Baird reduced their price target on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, UBS Group downgraded Concrete Pumping from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.50 to $6.25 in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Concrete Pumping presently has a consensus rating of “Hold” and an average target price of $7.31.

About Concrete Pumping

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 Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.