Wall Street brokerages predict that Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) will announce sales of $83.22 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Concrete Pumping’s earnings, with estimates ranging from $81.70 million to $84.75 million. Concrete Pumping reported sales of $79.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The business is expected to report its next quarterly earnings results on Tuesday, January 11th.
According to Zacks, analysts expect that Concrete Pumping will report full year sales of $311.25 million for the current fiscal year, with estimates ranging from $309.70 million to $312.80 million. For the next fiscal year, analysts expect that the company will post sales of $333.99 million, with estimates ranging from $326.30 million to $341.68 million. Zacks’ sales averages are an average based on a survey of research firms that cover Concrete Pumping.
Several analysts have issued reports on BBCP shares. Zacks Investment Research lowered Concrete Pumping from a “hold” rating to a “sell” rating in a research note on Tuesday, October 19th. TheStreet upgraded Concrete Pumping from a “d” rating to a “c-” rating in a report on Wednesday, November 3rd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $11.00 price objective on shares of Concrete Pumping in a research report on Sunday, September 12th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.19.
Shares of NASDAQ:BBCP opened at $8.09 on Friday. Concrete Pumping has a fifty-two week low of $3.40 and a fifty-two week high of $9.70. The company’s 50-day moving average is $8.61 and its 200 day moving average is $8.48. The company has a market capitalization of $457.85 million, a P/E ratio of -18.81 and a beta of 1.13. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.62 and a current ratio of 1.73.
Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in Concrete Pumping by 162.0% during the 3rd quarter. Citigroup Inc. now owns 3,215 shares of the company’s stock valued at $27,000 after buying an additional 1,988 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Concrete Pumping in the second quarter valued at approximately $60,000. BNP Paribas Arbitrage SA increased its holdings in shares of Concrete Pumping by 91.7% in the third quarter. BNP Paribas Arbitrage SA now owns 7,142 shares of the company’s stock valued at $61,000 after purchasing an additional 3,417 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Concrete Pumping during the first quarter worth $84,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Concrete Pumping during the third quarter worth $89,000. Institutional investors and hedge funds own 31.36% 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 Camfaud brands; and industrial cleanup and containment services primarily to customers in the …….