Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Short Interest Down 8.3% in July

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 267,000 shares, a decline of 8.3% from the July 15th total of 291,300 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 128,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. William Blair lowered Concrete Pumping from an “outperform” rating to a “market perform” rating in a research report on Friday, June 7th. Robert W. Baird reduced their price target on Concrete Pumping from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Monday, June 10th. Stifel Nicolaus lowered their price objective on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Finally, DA Davidson cut their target price on shares of Concrete Pumping from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.25.

Concrete Pumping Stock Up 2.8 %

Shares of NASDAQ:BBCP opened at $6.18 on Friday. The firm has a market cap of $334.46 million, a P/E ratio of 19.94 and a beta of 1.10. Concrete Pumping has a 12-month low of $5.58 and a 12-month high of $9.15. The business has a fifty day simple moving average of $6.30 and a 200 day simple moving average of $7.07. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.21.

Concrete Pumping (NASDAQ:BBCP) last issued its quarterly earnings data on Thursday, June 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Concrete Pumping had a return on equity of 6.83% and a net margin of 4.25%. The company had revenue of $107.06 million for the quarter, compared to the consensus estimate of $112.97 million. During the same quarter last year, the business earned $0.09 earnings per share. Concrete Pumping’s revenue was down .7% compared to the same quarter last year. Analysts predict that Concrete Pumping will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Concrete Pumping by 5.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,900 shares of the company’s stock worth $432,000 after buying an additional 3,650 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Concrete Pumping during the second quarter valued at $42,000. Cubist Systematic Strategies LLC acquired a new stake in Concrete Pumping during the 2nd quarter worth about $26,000. Hsbc Holdings PLC raised its position in shares of Concrete Pumping by 39.1% in the 2nd quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock worth $195,000 after acquiring an additional 8,866 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 34.20% of the company’s stock.

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.