Concrete Pumping (NASDAQ:BBCP) Sees Unusually-High Trading Volume – Still a Buy?

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) shares saw an uptick in trading volume on Monday . 216,526 shares changed 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBCP. Robert W. Baird lifted their price target on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Finally, Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.25.

Concrete Pumping Stock Down 0.8%

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 has a market cap of $540.96 million, a PE ratio of 76.50 and a beta of 0.94. The firm has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $7.04.

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

Hedge Funds Weigh In On Concrete Pumping

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in Concrete Pumping by 97.5% during the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after purchasing an additional 2,187 shares during the period. Acadian Asset Management LLC purchased a new stake in Concrete Pumping during the first quarter valued at about $54,000. Mercer Global Advisors Inc. ADV purchased a new stake in Concrete Pumping during the third quarter valued at about $71,000. Verition Fund Management LLC purchased a new stake in Concrete Pumping during the fourth quarter valued at about $69,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in Concrete Pumping during the third quarter valued at about $74,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

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.