Concrete Pumping (NASDAQ:BBCP) Price Target Cut to $4.00 by Analysts at DA Davidson

Concrete Pumping (NASDAQ:BBCP) had its target price cut by DA Davidson from $4.50 to $4.00 in a report issued on Tuesday, BenzingaRatingsTable reports. They currently have a neutral rating on the stock. DA Davidson also issued estimates for Concrete Pumping’s Q2 2020 earnings at ($0.06) EPS, FY2020 earnings at ($0.05) EPS and FY2021 earnings at $0.04 EPS.

Several other brokerages have also recently issued reports on BBCP. Robert W. Baird cut Concrete Pumping from an outperform rating to a neutral rating and dropped their target price for the company from $5.00 to $3.00 in a report on Tuesday, March 24th. BidaskClub cut Concrete Pumping from a buy rating to a hold rating in a report on Friday, March 13th. Zacks Investment Research upgraded Concrete Pumping from a sell rating to a hold rating in a report on Tuesday, March 24th. Finally, B. Riley reaffirmed a neutral rating and issued a $3.00 price target (down previously from $5.00) on shares of Concrete Pumping in a research note on Friday, April 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $4.75.

Shares of BBCP opened at $3.03 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.66. The stock has a 50 day moving average price of $2.55 and a 200 day moving average price of $4.18. The stock has a market capitalization of $174.08 million, a price-to-earnings ratio of -8.31 and a beta of 1.12. Concrete Pumping has a one year low of $1.82 and a one year high of $6.10.

Concrete Pumping (NASDAQ:BBCP) last issued its earnings results on Wednesday, March 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.03). The company had revenue of $73.94 million during the quarter, compared to analysts’ expectations of $73.52 million. Concrete Pumping had a negative net margin of 3.02% and a negative return on equity of 3.00%. On average, analysts predict that Concrete Pumping will post -0.14 earnings per share for the current year.

In other Concrete Pumping news, Director David A. B. Brown purchased 18,415 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were acquired at an average price of $2.02 per share, with a total value of $37,198.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 23,415 shares of company stock worth $53,248. Corporate insiders own 27.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Owl Creek Asset Management L.P. lifted its stake in Concrete Pumping by 1.5% during the 1st quarter. Owl Creek Asset Management L.P. now owns 4,595,653 shares of the company’s stock worth $13,144,000 after acquiring an additional 65,888 shares in the last quarter. BlackRock Inc. raised its position in Concrete Pumping by 59.6% in the 1st quarter. BlackRock Inc. now owns 1,274,056 shares of the company’s stock valued at $3,644,000 after purchasing an additional 475,566 shares in the last quarter. ICM Asset Management Inc. WA raised its position in Concrete Pumping by 133.2% in the 4th quarter. ICM Asset Management Inc. WA now owns 517,715 shares of the company’s stock valued at $2,832,000 after purchasing an additional 295,715 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Concrete Pumping in the 4th quarter valued at about $2,175,000. Finally, State Street Corp raised its position in Concrete Pumping by 47.0% in the 1st quarter. State Street Corp now owns 359,131 shares of the company’s stock valued at $1,027,000 after purchasing an additional 114,793 shares in the last quarter. 27.06% of the stock is currently owned by hedge funds and other institutional investors.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.

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