Texas Capital Upgrades Concrete Pumping (NASDAQ:BBCP) to “Strong-Buy”

Concrete Pumping (NASDAQ:BBCP) was upgraded by stock analysts at Texas Capital to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

BBCP has been the topic of a number of other research reports. Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research upgraded shares of Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Robert W. Baird increased 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, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Concrete Pumping currently has a consensus rating of “Buy” and a consensus target price of $10.25.

Concrete Pumping Stock Performance

Shares of BBCP stock opened at $10.82 on Tuesday. Concrete Pumping has a 52-week low of $5.55 and a 52-week high of $12.19. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The stock has a market cap of $545.22 million, a PE ratio of 77.29 and a beta of 0.84. The business has a 50-day simple moving average of $9.90 and a 200-day simple moving average of $7.99.

Concrete Pumping (NASDAQ:BBCP) last posted its 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 company had revenue of $106.80 million for the quarter, compared to analyst estimates of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. On average, equities analysts expect that Concrete Pumping will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Concrete Pumping news, CFO Iain Humphries sold 96,955 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the transaction, the chief financial officer directly owned 377,812 shares in the company, valued at approximately $4,076,591.48. This represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brent M. Stevens sold 97,700 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $10.83, for a total transaction of $1,058,091.00. Following the transaction, the director directly owned 497,155 shares in the company, valued at approximately $5,384,188.65. The trade was a 16.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 346,955 shares of company stock worth $3,726,529 in the last three months. 28.20% of the stock is owned by corporate insiders.

Institutional Trading of Concrete Pumping

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in Concrete Pumping by 15.0% in the 1st quarter. Bank of America Corp DE now owns 39,563 shares of the company’s stock valued at $282,000 after buying an additional 5,154 shares in the last quarter. Seven Six Capital Management LLC increased its stake in Concrete Pumping by 9.6% during the 1st quarter. Seven Six Capital Management LLC now owns 529,981 shares of the company’s stock worth $3,784,000 after buying an additional 46,512 shares in the last quarter. Renaissance Technologies LLC increased its stake in Concrete Pumping by 10.7% during the 1st quarter. Renaissance Technologies LLC now owns 301,584 shares of the company’s stock worth $2,153,000 after buying an additional 29,084 shares in the last quarter. Aristides Capital LLC raised its holdings in shares of Concrete Pumping by 89.6% during the first quarter. Aristides Capital LLC now owns 188,473 shares of the company’s stock valued at $1,346,000 after acquiring an additional 89,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Concrete Pumping by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock valued at $14,869,000 after acquiring an additional 81,318 shares during the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

About Concrete Pumping

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.