Zacks Research Upgrades Concrete Pumping (NASDAQ:BBCP) to Strong-Buy

Concrete Pumping (NASDAQ:BBCP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 14th. Wall Street Zen cut shares of Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.00.

Concrete Pumping Price Performance

NASDAQ:BBCP opened at $9.36 on Wednesday. The firm has a market cap of $471.65 million, a price-to-earnings ratio of 58.50 and a beta of 0.88. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average is $9.61 and its two-hundred day moving average is $9.38. Concrete Pumping has a 12-month low of $5.55 and a 12-month high of $12.19.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $116.77 million during the quarter, compared to the consensus estimate of $110.19 million. Concrete Pumping had a net margin of 2.45% and a return on equity of 3.91%. Research analysts expect that Concrete Pumping will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of Concrete Pumping in the second quarter worth approximately $26,000. Bard Associates Inc. purchased a new stake in Concrete Pumping in the second quarter valued at approximately $30,000. L2 Asset Management LLC purchased a new stake in Concrete Pumping in the second quarter valued at approximately $124,000. OakTrust Wealth Advisors LLC acquired a new position in Concrete Pumping during the second quarter worth approximately $128,000. Finally, State of Alaska Department of Revenue increased its position in Concrete Pumping by 20.8% during the third quarter. State of Alaska Department of Revenue now owns 13,936 shares of the company’s stock worth $134,000 after purchasing an additional 2,396 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) provides concrete pumping and related services for commercial, residential, infrastructure, and industrial construction projects. Through its Brundage-Bone Concrete Pumping operations, the company uses truck-mounted and trailer-mounted concrete pumps to place concrete in locations that may be difficult or inefficient to reach with conventional methods.

The company also provides concrete waste-management services through its Eco-Pan business.