Concrete Pumping (NASDAQ:BBCP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, 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. “

BBCP has been the topic of several other research reports. Robert W. Baird initiated coverage on Concrete Pumping in a report on Monday, May 13th. They set an “outperform” rating and a $7.00 price target on the stock. ValuEngine downgraded Concrete Pumping from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. William Blair initiated coverage on Concrete Pumping in a report on Friday, May 17th. They set an “outperform” rating and a $5.31 price target on the stock. Finally, Stifel Nicolaus initiated coverage on Concrete Pumping in a report on Thursday, May 23rd. They set a “buy” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Concrete Pumping has an average rating of “Buy” and a consensus target price of $8.33.

Shares of BBCP stock traded down $0.02 on Wednesday, hitting $4.03. The stock had a trading volume of 247,272 shares, compared to its average volume of 136,277. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $219.24 million, a PE ratio of 1.63 and a beta of 0.73. Concrete Pumping has a 1 year low of $3.64 and a 1 year high of $15.25.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings data on Monday, June 10th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.39). The company had revenue of $61.99 million during the quarter, compared to analysts’ expectations of $62.97 million. Research analysts predict that Concrete Pumping will post 0.15 EPS for the current fiscal year.

In other news, CEO Bruce F. Young bought 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $4.50 per share, with a total value of $900,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Argand Partners, Lp bought 1,625,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $4.50 per share, with a total value of $7,312,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,861,716 shares of company stock valued at $8,396,072.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. acquired a new stake in Concrete Pumping during the 1st quarter worth approximately $35,000. ExodusPoint Capital Management LP acquired a new stake in Concrete Pumping during the 1st quarter worth approximately $137,000. BlueCrest Capital Management Ltd acquired a new stake in Concrete Pumping during the 1st quarter worth approximately $193,000. Millennium Management LLC acquired a new stake in Concrete Pumping during the 4th quarter worth approximately $688,000. Finally, Owl Creek Asset Management L.P. acquired a new stake in Concrete Pumping during the 4th quarter worth approximately $15,689,000. 4.43% of the stock is owned by hedge funds and other institutional investors.

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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