Concrete Pumping (NASDAQ:BBCP) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Concrete Pumping (NASDAQ:BBCP) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Texas Capital upgraded Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st. Zacks Research upgraded Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 21st. Finally, Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, Concrete Pumping has an average rating of “Buy” and a consensus target price of $12.00.

Concrete Pumping Price Performance

Shares of BBCP stock traded down $0.20 on Friday, reaching $10.07. 90,598 shares of the company were exchanged, compared to its average volume of 108,444. Concrete Pumping has a 1 year low of $5.55 and a 1 year high of $12.19. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.60 and a current ratio of 1.71. The business has a 50-day moving average price of $9.82 and a 200 day moving average price of $8.80. The company has a market cap of $507.43 million, a price-to-earnings ratio of 62.94 and a beta of 0.90.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Concrete Pumping had a return on equity of 3.91% and a net margin of 2.45%. The company had revenue of $116.77 million for the quarter, compared to analysts’ expectations of $110.19 million. Equities research analysts forecast that Concrete Pumping will post 0.19 earnings per share for the current fiscal year.

Concrete Pumping Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.52 annualized dividend and a yield of 5.2%. Concrete Pumping’s dividend payout ratio (DPR) is 325.00%.

Hedge Funds Weigh In On Concrete Pumping

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 81,318 shares during the period. BlackRock Inc. purchased a new stake in Concrete Pumping in the 2nd quarter valued at about $16,061,000. Royce & Associates LP raised its holdings in Concrete Pumping by 1.3% in the 3rd quarter. Royce & Associates LP now owns 760,202 shares of the company’s stock valued at $7,366,000 after buying an additional 10,000 shares during the period. Seven Six Capital Management LLC lifted its position in Concrete Pumping by 9.6% in the first quarter. Seven Six Capital Management LLC now owns 529,981 shares of the company’s stock valued at $3,784,000 after buying an additional 46,512 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Concrete Pumping in the second quarter valued at about $5,901,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc. provides concrete pumping and related services through its Brundage-Bone, Camfaud and Eco-Pan businesses. Its concrete pumping operations serve construction projects by transporting and placing concrete using equipment such as boom pumps, line pumps and truck-mounted conveyors. The company serves customers in the United States and the United Kingdom. Its Eco-Pan business provides concrete washout services, collecting and managing concrete waste at construction sites and helping customers meet environmental and site-safety requirements.