Concrete Pumping (NASDAQ:BBCP) Price Target Lowered to $6.50 at Robert W. Baird

Concrete Pumping (NASDAQ:BBCP) had its target price cut by equities research analysts at Robert W. Baird from $7.00 to $6.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 7.62% from the company’s current price.

Concrete Pumping Stock Performance

Shares of BBCP opened at $6.04 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.99 and a quick ratio of 1.89. Concrete Pumping has a 12-month low of $5.05 and a 12-month high of $9.68. The business’s fifty day moving average price is $7.39 and its 200 day moving average price is $6.55. The stock has a market capitalization of $320.14 million, a PE ratio of 23.23 and a beta of 1.25.

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

Institutional Investors Weigh In On Concrete Pumping

A number of institutional investors have recently added to or reduced their stakes in BBCP. Marshall Wace LLP lifted its holdings in shares of Concrete Pumping by 6.5% in the fourth quarter. Marshall Wace LLP now owns 24,993 shares of the company’s stock valued at $166,000 after buying an additional 1,529 shares during the period. Renaissance Technologies LLC raised its position in Concrete Pumping by 0.9% in the fourth quarter. Renaissance Technologies LLC now owns 243,100 shares of the company’s stock worth $1,619,000 after acquiring an additional 2,100 shares in the last quarter. Trexquant Investment LP lifted its holdings in Concrete Pumping by 9.5% in the 4th quarter. Trexquant Investment LP now owns 25,906 shares of the company’s stock valued at $173,000 after acquiring an additional 2,238 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Concrete Pumping by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock valued at $93,000 after purchasing an additional 3,042 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Concrete Pumping by 3.7% in the 4th quarter. Federated Hermes Inc. now owns 103,072 shares of the company’s stock worth $686,000 after purchasing an additional 3,654 shares during the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

About Concrete Pumping

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.