Brent Stevens Sells 50,000 Shares of Concrete Pumping (NASDAQ:BBCP) Stock

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Director Brent Stevens sold 50,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $10.65, for a total value of $532,500.00. Following the completion of the transaction, the director owned 747,155 shares of the company’s stock, valued at $7,957,200.75. This trade represents a 6.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Concrete Pumping Trading Down 0.2%

NASDAQ:BBCP opened at $11.12 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. Concrete Pumping Holdings, Inc. has a 1-year low of $5.55 and a 1-year high of $11.98. The firm has a market capitalization of $560.34 million, a price-to-earnings ratio of 79.43 and a beta of 0.94. The stock has a fifty day simple moving average of $7.99 and a 200 day simple moving average of $7.13.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. The company had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million. Sell-side analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On Concrete Pumping

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its position in Concrete Pumping by 15.0% during the 1st quarter. Bank of America Corp DE now owns 39,563 shares of the company’s stock worth $282,000 after acquiring an additional 5,154 shares during the period. Seven Six Capital Management LLC boosted its position in Concrete Pumping by 9.6% during the 1st quarter. Seven Six Capital Management LLC now owns 529,981 shares of the company’s stock worth $3,784,000 after acquiring an additional 46,512 shares during the period. Renaissance Technologies LLC boosted its position in Concrete Pumping by 10.7% during the 1st quarter. Renaissance Technologies LLC now owns 301,584 shares of the company’s stock worth $2,153,000 after acquiring an additional 29,084 shares during the period. Aristides Capital LLC boosted its position in Concrete Pumping by 89.6% during the 1st quarter. Aristides Capital LLC now owns 188,473 shares of the company’s stock worth $1,346,000 after acquiring an additional 89,081 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Concrete Pumping by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock worth $14,869,000 after acquiring an additional 81,318 shares during the period. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BBCP shares. Robert W. Baird increased their price target on Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings upgraded Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Concrete Pumping currently has a consensus rating of “Hold” and a consensus price target of $10.25.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.