Concrete Pumping (NASDAQ:BBCP) Given New $8.50 Price Target at DA Davidson

Concrete Pumping (NASDAQ:BBCP) had its price objective reduced by DA Davidson from $9.00 to $8.50 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

BBCP has been the topic of a number of other reports. William Blair lowered Concrete Pumping from an outperform rating to a market perform rating in a report on Friday, June 7th. Stifel Nicolaus lowered their target price on Concrete Pumping from $9.00 to $8.00 and set a buy rating on the stock in a report on Friday, June 7th. Finally, Robert W. Baird lowered their target price on Concrete Pumping from $7.50 to $6.50 and set a neutral rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $7.88.

Concrete Pumping Price Performance

Shares of NASDAQ BBCP opened at $5.17 on Thursday. Concrete Pumping has a fifty-two week low of $5.05 and a fifty-two week high of $9.15. The firm’s 50-day simple moving average is $6.25 and its 200 day simple moving average is $6.90. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.21. The stock has a market cap of $279.80 million, a P/E ratio of 16.68 and a beta of 1.11.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data 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 the consensus estimate of $126.10 million. Concrete Pumping had a net margin of 4.25% and a return on equity of 6.83%. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Equities analysts expect that Concrete Pumping will post 0.38 EPS for the current year.

Institutional Trading of Concrete Pumping

Institutional investors and hedge funds have recently bought and sold shares of the stock. Epoch Investment Partners Inc. acquired a new stake in Concrete Pumping during the 1st quarter worth about $3,439,000. Janney Montgomery Scott LLC raised its holdings in Concrete Pumping by 15.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,041 shares of the company’s stock worth $451,000 after buying an additional 7,520 shares during the period. Private Advisor Group LLC acquired a new stake in Concrete Pumping during the 4th quarter worth about $101,000. Park Avenue Securities LLC raised its holdings in Concrete Pumping by 100.0% during the 2nd quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after buying an additional 59,107 shares during the period. Finally, Empowered Funds LLC raised its holdings in Concrete Pumping by 8.2% during the 1st quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock worth $2,119,000 after buying an additional 20,290 shares during the period. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.