Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Update

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 331,000 shares, an increase of 8.0% from the September 15th total of 306,500 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 115,100 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analyst Weigh In

BBCP has been the subject of a number of recent analyst reports. DA Davidson cut their price objective on Concrete Pumping from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Thursday, September 5th. UBS Group cut Concrete Pumping from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.50 to $6.25 in a research note on Friday, September 6th. Finally, Robert W. Baird lowered their target price on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.55.

Hedge Funds Weigh In On Concrete Pumping

Several institutional investors have recently added to or reduced their stakes in BBCP. Epoch Investment Partners Inc. acquired a new position in shares of Concrete Pumping in the first quarter valued at approximately $3,439,000. Park Avenue Securities LLC raised its position in Concrete Pumping by 100.0% during the 2nd quarter. Park Avenue Securities LLC now owns 118,213 shares of the company’s stock worth $710,000 after buying an additional 59,107 shares during the last quarter. Empowered Funds LLC raised its position in Concrete Pumping by 8.2% during the 1st quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock worth $2,119,000 after buying an additional 20,290 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Concrete Pumping by 8.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,500 shares of the company’s stock worth $470,000 after acquiring an additional 4,459 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Concrete Pumping by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,550,933 shares of the company’s stock valued at $9,322,000 after purchasing an additional 91,469 shares in the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Concrete Pumping Price Performance

Shares of NASDAQ:BBCP opened at $5.76 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.54 and a quick ratio of 1.44. Concrete Pumping has a 12 month low of $5.05 and a 12 month high of $8.83. The firm has a market capitalization of $311.73 million, a P/E ratio of 18.58 and a beta of 1.11. The company’s fifty day moving average price is $5.88 and its 200 day moving average price is $6.43.

Concrete Pumping (NASDAQ:BBCP) last posted its earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $126.10 million. Concrete Pumping had a net margin of 3.72% and a return on equity of 6.17%. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, sell-side analysts predict that Concrete Pumping will post 0.27 earnings per share for the current fiscal year.

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.