Concrete Pumping (NASDAQ:BBCP) Announces Earnings Results

Concrete Pumping (NASDAQ:BBCP) released its earnings results on Tuesday. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01, Zacks reports. Concrete Pumping had a net margin of 2.65% and a return on equity of 4.19%.

Concrete Pumping Price Performance

BBCP traded down $0.09 on Tuesday, hitting $7.41. 104,745 shares of the company were exchanged, compared to its average volume of 81,103. Concrete Pumping has a fifty-two week low of $4.78 and a fifty-two week high of $9.68. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.64 and a current ratio of 1.75. The firm has a market capitalization of $381.39 million, a P/E ratio of 46.32 and a beta of 1.04. The business’s fifty day moving average is $6.61 and its 200 day moving average is $6.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Concrete Pumping by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,942,707 shares of the company’s stock valued at $13,696,000 after buying an additional 22,973 shares during the period. Bridgeway Capital Management LLC raised its position in Concrete Pumping by 0.9% in the second quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company’s stock valued at $3,628,000 after purchasing an additional 5,224 shares during the period. Empowered Funds LLC lifted its stake in shares of Concrete Pumping by 3.7% during the first quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock worth $1,757,000 after purchasing an additional 11,605 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Concrete Pumping by 5.7% in the first quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock worth $878,000 after buying an additional 8,620 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Concrete Pumping by 9.8% in the second quarter. American Century Companies Inc. now owns 103,819 shares of the company’s stock valued at $638,000 after buying an additional 9,246 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Concrete Pumping in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Concrete Pumping currently has an average rating of “Hold” and a consensus target price of $7.50.

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.