Concrete Pumping (NASDAQ:BBCP) Sets New 12-Month High – Should You Buy?

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $12.07 and last traded at $11.98, with a volume of 95883 shares trading hands. The stock had previously closed at $11.86.

Analyst Ratings Changes

Several research firms have weighed in on BBCP. Robert W. Baird lifted their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.25.

Concrete Pumping Trading Up 1.4%

The business’s 50-day simple moving average is $8.82 and its 200-day simple moving average is $7.51. The company has a market cap of $605.98 million, a PE ratio of 85.86 and a beta of 0.94. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.59.

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). Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. The company had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $96.71 million. As a group, analysts expect that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Concrete Pumping

In other news, CFO Iain Humphries sold 96,955 shares of Concrete Pumping stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the sale, the chief financial officer directly owned 377,812 shares in the company, valued at $4,076,591.48. The trade was a 20.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brent M. Stevens sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the sale, the director directly owned 597,155 shares of the company’s stock, valued at approximately $6,359,700.75. The trade was a 14.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,955 shares of company stock valued at $2,643,644 over the last ninety days. Company insiders own 28.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. North Star Investment Management Corp. acquired a new stake in shares of Concrete Pumping in the 1st quarter valued at $885,000. Royce & Associates LP increased its position in Concrete Pumping by 5.4% during the third quarter. Royce & Associates LP now owns 1,767,641 shares of the company’s stock worth $12,462,000 after buying an additional 90,516 shares during the last quarter. Seven Six Capital Management LLC increased its position in Concrete Pumping by 10.7% during the fourth quarter. Seven Six Capital Management LLC now owns 483,469 shares of the company’s stock worth $3,244,000 after buying an additional 46,914 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Concrete Pumping by 10.7% during the first quarter. Renaissance Technologies LLC now owns 301,584 shares of the company’s stock valued at $2,153,000 after buying an additional 29,084 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 buying an additional 81,318 shares in the last quarter. Institutional investors and hedge funds 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.