Concrete Pumping (NASDAQ:BBCP) Shares Up 6.5%

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Concrete Pumping Holdings Inc (NASDAQ:BBCP) shot up 6.5% on Tuesday . The company traded as high as $3.62 and last traded at $3.58, 128,436 shares were traded during mid-day trading. A decline of 13% from the average session volume of 146,959 shares. The stock had previously closed at $3.36.

A number of brokerages recently weighed in on BBCP. Robert W. Baird began coverage on shares of Concrete Pumping in a report on Monday, May 13th. They issued an “outperform” rating and a $7.00 price objective for the company. Zacks Investment Research lowered shares of Concrete Pumping from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Stifel Nicolaus started coverage on shares of Concrete Pumping in a research report on Thursday, May 23rd. They issued a “buy” rating and a $9.00 target price for the company. William Blair started coverage on shares of Concrete Pumping in a research report on Friday, May 17th. They issued an “outperform” rating and a $5.31 target price for the company. Finally, ValuEngine raised shares of Concrete Pumping from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $8.33.

The firm’s 50-day simple moving average is $4.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.53 and a current ratio of 0.57. The firm has a market capitalization of $200.79 million, a PE ratio of 1.45 and a beta of 0.69.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data on Monday, June 10th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.39). The firm had revenue of $61.99 million for the quarter, compared to analysts’ expectations of $62.97 million. As a group, sell-side analysts anticipate that Concrete Pumping Holdings Inc will post -0.73 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. US Bancorp DE bought a new stake in shares of Concrete Pumping during the 2nd quarter valued at $114,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Concrete Pumping during the 2nd quarter valued at $118,000. Wells Fargo & Company MN bought a new stake in shares of Concrete Pumping during the 2nd quarter valued at $153,000. Bank of New York Mellon Corp bought a new stake in shares of Concrete Pumping during the 2nd quarter valued at $161,000. Finally, Myriad Asset Management Ltd. bought a new stake in shares of Concrete Pumping during the 2nd quarter valued at $215,000. 5.22% of the stock is owned by hedge funds and other institutional investors.

About Concrete Pumping (NASDAQ:BBCP)

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.

Further Reading: Gross Domestic Product (GDP)

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