Concrete Pumping (NASDAQ:BBCP) Lowered to “Neutral” at UBS Group

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

A number of other research analysts have also commented on the company. Stifel Nicolaus lowered their price target on Concrete Pumping from $9.00 to $8.00 and set a buy rating on the stock in a report on Friday, June 7th. DA Davidson lowered their price objective on shares of Concrete Pumping from $9.00 to $8.50 and set a buy rating on the stock in a research note on Thursday. Robert W. Baird lowered their price target on Concrete Pumping from $7.50 to $6.50 and set a neutral rating on the stock in a research report on Thursday. Finally, William Blair lowered Concrete Pumping from an outperform rating to a market perform rating in a report on Friday, June 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $7.55.

Concrete Pumping Stock Up 1.7 %

Shares of NASDAQ:BBCP opened at $5.26 on Friday. The firm has a market cap of $284.67 million, a PE ratio of 16.97 and a beta of 1.11. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.21. Concrete Pumping has a 12-month low of $5.05 and a 12-month high of $9.15. The company has a fifty day simple moving average of $6.23 and a 200 day simple moving average of $6.88.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). The firm had revenue of $109.62 million during the quarter, compared to the consensus estimate of $126.10 million. Concrete Pumping had a net margin of 4.25% and a return on equity of 6.83%. During the same quarter last year, the firm posted $0.17 earnings per share. On average, equities research analysts anticipate that Concrete Pumping will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors have recently bought and sold shares of BBCP. Dimensional Fund Advisors LP increased its position in shares of Concrete Pumping by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock worth $9,322,000 after acquiring an additional 91,469 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings 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 valued at $6,308,000 after purchasing an additional 15,847 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Concrete Pumping in the first quarter worth $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 valued at $2,119,000 after acquiring an additional 20,290 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of 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 purchasing an additional 59,107 shares in the last quarter. Hedge funds and other institutional investors own 34.20% 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 Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.