Concrete Pumping (NASDAQ:BBCP) Price Target Cut to $9.00 by Analysts at DA Davidson

Concrete Pumping (NASDAQ:BBCP) had its price target dropped by investment analysts at DA Davidson from $9.50 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 75.20% from the stock’s current price.

Separately, Robert W. Baird lowered their price objective on Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.44.

Concrete Pumping Stock Down 15.0 %

Shares of BBCP traded down $0.90 during mid-day trading on Wednesday, hitting $5.14. 277,819 shares of the company’s stock were exchanged, compared to its average volume of 118,242. The company has a 50-day simple moving average of $7.39 and a 200 day simple moving average of $6.55. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89. The company has a market cap of $272.28 million, a PE ratio of 19.62 and a beta of 1.25. Concrete Pumping has a 52 week low of $4.79 and a 52 week high of $9.68.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings data on Wednesday, January 8th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Concrete Pumping had a net margin of 3.81% and a return on equity of 6.19%. On average, research analysts forecast that Concrete Pumping will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Concrete Pumping

A number of institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Concrete Pumping in the 4th quarter valued at approximately $55,000. O Shaughnessy Asset Management LLC bought a new position in Concrete Pumping in the 4th quarter valued at approximately $75,000. MetLife Investment Management LLC boosted its position in Concrete Pumping by 54.0% in the fourth quarter. MetLife Investment Management LLC now owns 11,202 shares of the company’s stock valued at $75,000 after buying an additional 3,928 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Concrete Pumping during the fourth quarter worth $81,000. Finally, Wells Fargo & Company MN grew its position in Concrete Pumping by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock worth $93,000 after acquiring an additional 3,042 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.