Concrete Pumping (NASDAQ:BBCP) Director Brent Stevens Sells 50,000 Shares

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Director Brent Stevens sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $10.65, for a total value of $532,500.00. Following the transaction, the director owned 747,155 shares in the company, valued at $7,957,200.75. This trade represents a 6.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Concrete Pumping Trading Up 4.2%

Shares of NASDAQ:BBCP opened at $11.14 on Friday. Concrete Pumping Holdings, Inc. has a 1 year low of $5.55 and a 1 year high of $11.98. The firm has a market capitalization of $562.68 million, a price-to-earnings ratio of 79.57 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61. The business’s 50 day moving average price is $7.91 and its 200-day moving average price is $7.11.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. On average, equities research analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Concrete Pumping by 5.7% during the 1st quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock worth $878,000 after acquiring an additional 8,620 shares during the period. AQR Capital Management LLC purchased a new position in shares of Concrete Pumping during the 1st quarter worth $78,000. Empowered Funds LLC raised its holdings in shares of Concrete Pumping by 3.7% during the 1st quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock worth $1,757,000 after acquiring an additional 11,605 shares during the period. Jane Street Group LLC raised its holdings in shares of Concrete Pumping by 166.4% during the 1st quarter. Jane Street Group LLC now owns 31,906 shares of the company’s stock worth $174,000 after acquiring an additional 19,929 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Concrete Pumping during the 1st quarter worth $54,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BBCP. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings upgraded Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Robert W. Baird raised their price objective on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday. 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 stock presently has an average rating of “Hold” and an average target price of $10.25.

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.