Concrete Pumping (NASDAQ:BBCP) Sets New 12-Month High – Time to Buy?

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) hit a new 52-week high on Tuesday . The company traded as high as $12.07 and last traded at $11.98, with a volume of 95883 shares. The stock had previously closed at $11.86.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Robert W. Baird upped their price objective on Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.25.

Concrete Pumping Stock Performance

The firm has a fifty day moving average of $9.00 and a 200-day moving average of $7.58. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The firm has a market cap of $595.11 million, a P/E ratio of 84.50 and a beta of 0.84.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%.The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million. Research analysts predict that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Brent M. Stevens sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the sale, the director directly owned 597,155 shares of the company’s stock, valued at $6,359,700.75. The trade was a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total transaction of $1,046,144.45. Following the completion of the transaction, the chief financial officer directly owned 377,812 shares in the company, valued at approximately $4,076,591.48. The trade was a 20.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 246,955 shares of company stock valued at $2,643,644. 28.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Concrete Pumping by 5.7% during the first quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock worth $878,000 after purchasing an additional 8,620 shares during the period. AQR Capital Management LLC acquired a new position in Concrete Pumping in the first quarter valued at about $78,000. Empowered Funds LLC lifted its stake in Concrete Pumping by 3.7% in the first quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock valued at $1,757,000 after buying an additional 11,605 shares during the period. Jane Street Group LLC lifted its stake in Concrete Pumping by 166.4% in the first quarter. Jane Street Group LLC now owns 31,906 shares of the company’s stock valued at $174,000 after buying an additional 19,929 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Concrete Pumping during the first quarter worth about $54,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.