Concrete Pumping (NASDAQ:BBCP) Given New $6.00 Price Target at B. Riley


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Concrete Pumping (NASDAQ:BBCP) had its target price cut by B. Riley from $6.75 to $6.00 in a research note released on Wednesday, The Fly reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Concrete Pumping’s Q1 2021 earnings at ($0.04) EPS, Q2 2021 earnings at ($0.01) EPS, Q3 2021 earnings at $0.06 EPS, Q4 2021 earnings at $0.07 EPS and FY2022 earnings at $0.17 EPS.

BBCP has been the topic of a number of other reports. Zacks Investment Research raised Concrete Pumping from a strong sell rating to a hold rating in a research report on Tuesday, December 22nd. Robert W. Baird raised Concrete Pumping from a neutral rating to an outperform rating and set a $5.00 target price on the stock in a research report on Tuesday, January 5th. Finally, DA Davidson raised Concrete Pumping from a neutral rating to a buy rating and set a $5.00 price target on the stock in a research report on Monday, December 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $5.04.

Shares of NASDAQ BBCP traded up $0.20 during trading hours on Wednesday, reaching $5.20. The stock had a trading volume of 5,213 shares, compared to its average volume of 345,500. The business’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $3.71. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.29. The firm has a market cap of $302.64 million, a price-to-earnings ratio of -4.35 and a beta of 1.24. Concrete Pumping has a 52-week low of $1.82 and a 52-week high of $6.10.

Concrete Pumping (NASDAQ:BBCP) last posted its earnings results on Monday, January 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.10). Concrete Pumping had a negative return on equity of 1.04% and a negative net margin of 18.81%. Equities research analysts anticipate that Concrete Pumping will post -0.01 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Concrete Pumping by 108.9% during the 2nd quarter. Bank of America Corp DE now owns 11,568 shares of the company’s stock worth $40,000 after buying an additional 6,030 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Concrete Pumping by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,059 shares of the company’s stock valued at $84,000 after purchasing an additional 6,498 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Concrete Pumping in the 3rd quarter valued at approximately $32,000. Nuveen Asset Management LLC increased its holdings in Concrete Pumping by 14.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 82,585 shares of the company’s stock valued at $288,000 after purchasing an additional 10,575 shares during the last quarter. Finally, Nwam LLC acquired a new stake in Concrete Pumping in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 24.76% of the company’s stock.

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 Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.

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