Concrete Pumping (NASDAQ:BBCP) Downgraded by UBS Group

UBS Group lowered shares of Concrete Pumping (NASDAQ:BBCP) from a buy rating to a neutral rating in a report released on Friday, MarketBeat reports. The brokerage currently has $6.25 price target on the stock, down from their prior price target of $10.50.

Several other brokerages have also weighed in on BBCP. William Blair lowered shares of Concrete Pumping from an outperform rating to a market perform rating in a report on Friday, June 7th. DA Davidson decreased their price target on Concrete Pumping from $9.00 to $8.50 and set a buy rating for the company in a research note on Thursday, September 5th. Robert W. Baird cut their price objective on Concrete Pumping from $7.50 to $6.50 and set a neutral rating on the stock in a research note on Thursday, September 5th. Finally, Stifel Nicolaus reduced their target price on Concrete Pumping from $9.00 to $8.00 and set a buy rating on the stock in a report on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $7.55.

Concrete Pumping Stock Up 2.3 %

Shares of NASDAQ BBCP opened at $5.38 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.44 and a current ratio of 1.54. Concrete Pumping has a 1 year low of $5.05 and a 1 year high of $9.15. The stock’s 50-day simple moving average is $6.23 and its 200-day simple moving average is $6.84. The firm has a market cap of $291.16 million, a price-to-earnings ratio of 17.35 and a beta of 1.12.

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

Institutional Investors Weigh In On Concrete Pumping

A number of institutional investors have recently modified their holdings of BBCP. Dimensional Fund Advisors LP boosted its stake in Concrete Pumping by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock valued at $9,322,000 after acquiring an additional 91,469 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Concrete Pumping by 1.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,049,645 shares of the company’s stock worth $6,308,000 after purchasing an additional 15,847 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in Concrete Pumping during the 1st quarter valued at approximately $3,439,000. Empowered Funds LLC grew its stake in Concrete Pumping by 8.2% during the 1st quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock worth $2,119,000 after buying an additional 20,290 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Concrete Pumping by 100.0% in the second quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after buying an additional 59,107 shares during the period. Institutional investors own 34.20% of the company’s stock.

Concrete Pumping Company Profile

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.