Concrete Pumping (NASDAQ:BBCP) Stock Rating Lowered by Zacks Investment Research

Concrete Pumping (NASDAQ:BBCP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Concrete Pumping Holdings Inc. provides concrete pumping services and concrete waste management services primarily in U.S. and U.K. Concrete Pumping Holdings Inc., formerly known as Industrea Acquisition Corp., is based in New York, United States. “

A number of other brokerages have also recently weighed in on BBCP. ValuEngine raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. B. Riley reissued a “buy” rating and set a $7.00 price target on shares of Concrete Pumping in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $7.08.

Shares of BBCP stock traded down $0.29 during trading on Monday, hitting $4.51. 53,102 shares of the stock traded hands, compared to its average volume of 137,648. The firm has a market capitalization of $279.36 million, a P/E ratio of 1.83 and a beta of 0.78. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.60. Concrete Pumping has a 52-week low of $3.16 and a 52-week high of $15.25. The firm’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.23.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results on Monday, September 16th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). The business had revenue of $78.66 million for the quarter. As a group, equities research analysts expect that Concrete Pumping will post -0.75 earnings per share for the current year.

Several hedge funds have recently modified their holdings of BBCP. Millennium Management LLC grew its holdings in Concrete Pumping by 101.6% during the 3rd quarter. Millennium Management LLC now owns 24,180 shares of the company’s stock valued at $95,000 after purchasing an additional 1,544,180 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Concrete Pumping in the 3rd quarter valued at about $101,000. California State Teachers Retirement System lifted its position in Concrete Pumping by 46.5% in the 3rd quarter. California State Teachers Retirement System now owns 25,056 shares of the company’s stock valued at $99,000 after purchasing an additional 7,950 shares during the last quarter. State Street Corp lifted its position in Concrete Pumping by 103.0% in the 3rd quarter. State Street Corp now owns 197,546 shares of the company’s stock valued at $784,000 after purchasing an additional 100,246 shares during the last quarter. Finally, Context Capital Management LLC bought a new stake in shares of Concrete Pumping during the 3rd quarter worth about $120,000. 26.39% of the stock is currently owned by institutional investors and hedge funds.

About Concrete Pumping

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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