Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Drops By 7.3%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 306,500 shares, a decrease of 7.3% from the August 31st total of 330,800 shares. Based on an average trading volume of 126,500 shares, the short-interest ratio is presently 2.4 days. Approximately 1.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BBCP shares. Robert W. Baird decreased their target price on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. William Blair downgraded Concrete Pumping from an “outperform” rating to a “market perform” rating in a research report on Friday, June 7th. Stifel Nicolaus reduced their price target on shares of Concrete Pumping from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. UBS Group cut shares of Concrete Pumping from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.50 to $6.25 in a report on Friday, September 6th. Finally, DA Davidson reduced their target price on shares of Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.55.

Institutional Trading of Concrete Pumping

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Concrete Pumping by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock worth $9,322,000 after purchasing an additional 91,469 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Concrete Pumping by 1.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,049,645 shares of the company’s stock worth $6,308,000 after acquiring an additional 15,847 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of Concrete Pumping in the 1st quarter valued at $3,439,000. Empowered Funds LLC lifted its holdings in shares of Concrete Pumping by 8.2% during the 1st quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock valued at $2,119,000 after acquiring an additional 20,290 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position 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 purchasing an additional 59,107 shares during the period. 34.20% of the stock is owned by institutional investors and hedge funds.

Concrete Pumping Price Performance

Shares of BBCP opened at $5.79 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.54 and a quick ratio of 1.44. Concrete Pumping has a 1-year low of $5.05 and a 1-year high of $9.05. The stock has a market cap of $313.35 million, a PE ratio of 18.68 and a beta of 1.11. The firm has a fifty day moving average price of $6.08 and a 200 day moving average price of $6.61.

Concrete Pumping (NASDAQ:BBCP) last posted its earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $126.10 million. Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, sell-side analysts anticipate that Concrete Pumping will post 0.27 EPS for the current year.

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.