Concrete Pumping (NASDAQ:BBCP – Get Free Report) had its target price decreased by DA Davidson from $9.50 to $9.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 64.84% from the stock’s previous close.
Separately, Robert W. Baird cut their price objective on Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.44.
Get Our Latest Research Report on BBCP
Concrete Pumping Trading Up 10.1 %
Concrete Pumping (NASDAQ:BBCP – Get Free Report) last released its quarterly earnings data on Wednesday, January 8th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Concrete Pumping had a return on equity of 6.19% and a net margin of 3.81%. Equities analysts anticipate that Concrete Pumping will post 0.43 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in BBCP. Cubist Systematic Strategies LLC bought a new stake in Concrete Pumping in the 4th quarter valued at about $55,000. MetLife Investment Management LLC increased its holdings in Concrete Pumping by 54.0% during the 4th quarter. MetLife Investment Management LLC now owns 11,202 shares of the company’s stock worth $75,000 after purchasing an additional 3,928 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Concrete Pumping during the 4th quarter worth approximately $75,000. SG Americas Securities LLC bought a new stake in Concrete Pumping during the 4th quarter worth approximately $81,000. Finally, Wells Fargo & Company MN increased its holdings in Concrete Pumping by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock worth $93,000 after purchasing an additional 3,042 shares in the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.
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.
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