Short Interest in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Declines By 7.3%

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 306,500 shares, a drop of 7.3% from the August 31st total of 330,800 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 126,500 shares, the short-interest ratio is presently 2.4 days.

Concrete Pumping Stock Performance

BBCP traded up $0.10 during midday trading on Friday, reaching $5.85. The company had a trading volume of 63,597 shares, compared to its average volume of 99,386. The business has a 50-day moving average of $6.08 and a two-hundred day moving average of $6.63. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.19. Concrete Pumping has a 1 year low of $5.05 and a 1 year high of $9.05. The company has a market cap of $316.60 million, a P/E ratio of 18.87 and a beta of 1.11.

Concrete Pumping (NASDAQ:BBCP) last released its earnings results 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 firm had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $126.10 million. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, equities research analysts predict that Concrete Pumping will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BBCP. William Blair lowered shares of Concrete Pumping from an “outperform” rating to a “market perform” rating in a research note on Friday, June 7th. DA Davidson lowered their price target on Concrete Pumping from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Thursday, September 5th. Stifel Nicolaus cut their price objective on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, June 7th. UBS Group downgraded Concrete Pumping from a “buy” rating to a “neutral” rating and lowered their target price for the company from $10.50 to $6.25 in a report on Friday, September 6th. Finally, Robert W. Baird reduced their price target on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.55.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBCP. Dimensional Fund Advisors LP raised its holdings in Concrete Pumping by 6.3% during 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 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 in the last quarter. Epoch Investment Partners Inc. bought a new position in Concrete Pumping in the 1st quarter worth approximately $3,439,000. Empowered Funds LLC boosted its stake in Concrete Pumping by 8.2% in the 1st quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock worth $2,119,000 after purchasing an additional 20,290 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings 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 buying 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.