Concrete Pumping (NASDAQ:BBCP) Sees Large Volume Increase – Here’s Why

Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw unusually-strong trading volume on Monday . Approximately 216,526 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 176,680 shares.The stock last traded at $10.2750 and had previously closed at $10.43.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird upped their price objective on shares of Concrete Pumping from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Concrete Pumping in a research note on Friday, April 10th. 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, the company presently has an average rating of “Hold” and an average target price of $8.25.

Concrete Pumping Stock Performance

The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The stock’s 50 day moving average price is $7.60 and its 200 day moving average price is $6.97. The company has a market capitalization of $543.20 million, a P/E ratio of 76.57 and a beta of 0.94.

Concrete Pumping (NASDAQ:BBCP) last released its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $96.71 million. As a group, equities analysts expect that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Occudo Quantitative Strategies LP lifted its position in shares of Concrete Pumping by 17.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company’s stock valued at $83,000 after acquiring an additional 1,825 shares during the period. Deutsche Bank AG lifted its holdings in shares of Concrete Pumping by 9.2% in the 4th quarter. Deutsche Bank AG now owns 24,345 shares of the company’s stock worth $163,000 after purchasing an additional 2,049 shares in the last quarter. Jane Street Group LLC increased its stake in Concrete Pumping by 6.4% during the 2nd quarter. Jane Street Group LLC now owns 33,962 shares of the company’s stock valued at $209,000 after purchasing an additional 2,056 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after purchasing an additional 2,187 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Concrete Pumping by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 77,067 shares of the company’s stock valued at $474,000 after purchasing an additional 3,076 shares in 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) 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.