Zacks Investment Research Upgrades Concrete Pumping (NASDAQ:BBCP) to “Hold”

Concrete Pumping (NASDAQ:BBCPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, 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. “

NASDAQ:BBCP traded up $0.13 during mid-day trading on Tuesday, hitting $4.78. 143,907 shares of the company’s stock traded hands, compared to its average volume of 84,998. The firm has a 50 day moving average of $6.26 and a two-hundred day moving average of $7.52. Concrete Pumping has a 12 month low of $4.64 and a 12 month high of $9.70. The firm has a market capitalization of $271.22 million, a price-to-earnings ratio of -59.75 and a beta of 1.12. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40.

Concrete Pumping (NASDAQ:BBCPGet Rating) last announced its earnings results on Thursday, March 10th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Concrete Pumping had a negative net margin of 0.48% and a positive return on equity of 3.60%. The business had revenue of $85.45 million for the quarter, compared to the consensus estimate of $84.01 million. As a group, equities research analysts expect that Concrete Pumping will post 0.34 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in BBCP. Diamond Hill Capital Management Inc. lifted its position in shares of Concrete Pumping by 84.4% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,462,319 shares of the company’s stock worth $9,798,000 after acquiring an additional 669,223 shares during the period. Royce & Associates LP lifted its position in shares of Concrete Pumping by 60.9% in the 4th quarter. Royce & Associates LP now owns 1,588,912 shares of the company’s stock worth $13,029,000 after acquiring an additional 601,468 shares during the period. Epoch Investment Partners Inc. bought a new stake in shares of Concrete Pumping in the 4th quarter worth approximately $3,881,000. Russell Investments Group Ltd. bought a new stake in shares of Concrete Pumping in the 3rd quarter worth approximately $3,098,000. Finally, Invesco Ltd. lifted its position in shares of Concrete Pumping by 31.2% during the 3rd quarter. Invesco Ltd. now owns 930,541 shares of the company’s stock worth $7,946,000 after buying an additional 221,297 shares during the period. Institutional investors own 35.36% of the company’s stock.

About Concrete Pumping (Get Rating)

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 Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.

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