JB Capital Partners LP Increases Stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

JB Capital Partners LP raised its holdings in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,100 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. JB Capital Partners LP owned approximately 0.45% of Concrete Pumping worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Rhumbline Advisers lifted its position in Concrete Pumping by 4.4% during the second quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock valued at $230,000 after purchasing an additional 1,623 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Concrete Pumping by 5.3% in 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 period. Cubist Systematic Strategies LLC purchased a new position in shares of Concrete Pumping during the 2nd quarter valued at about $26,000. Heirloom Wealth Management grew its stake in shares of Concrete Pumping by 8.8% during the 3rd quarter. Heirloom Wealth Management now owns 70,688 shares of the company’s stock valued at $409,000 after acquiring an additional 5,717 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Concrete Pumping in the 3rd quarter worth approximately $36,000. Institutional investors own 34.20% of the company’s stock.

Concrete Pumping Stock Performance

Shares of NASDAQ BBCP opened at $7.01 on Friday. The company has a market cap of $375.25 million, a P/E ratio of 26.96 and a beta of 1.13. Concrete Pumping Holdings, Inc. has a 52-week low of $5.05 and a 52-week high of $8.48. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.44 and a current ratio of 1.54. The firm’s fifty day moving average is $5.78 and its two-hundred day moving average is $6.17.

Concrete Pumping (NASDAQ:BBCP) last posted its earnings results on Wednesday, September 4th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 6.17% and a net margin of 3.72%. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BBCP. Robert W. Baird dropped their price target on shares of Concrete Pumping from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, September 5th. DA Davidson cut their price target on Concrete Pumping from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, UBS Group downgraded Concrete Pumping from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.50 to $6.25 in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.31.

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.