Mill Road Capital Management LLC Has $6.20 Million Stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP)

Mill Road Capital Management LLC grew its stake in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 96.8% during the third quarter, HoldingsChannel reports. The firm owned 1,070,405 shares of the company’s stock after buying an additional 526,379 shares during the quarter. Concrete Pumping accounts for about 2.9% of Mill Road Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Mill Road Capital Management LLC’s holdings in Concrete Pumping were worth $6,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Concrete Pumping during the second quarter valued at about $26,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Concrete Pumping during the third quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Concrete Pumping in the second quarter worth $42,000. Hsbc Holdings PLC raised its position in Concrete Pumping by 39.1% during the 2nd quarter. Hsbc Holdings PLC now owns 31,567 shares of the company’s stock worth $195,000 after purchasing an additional 8,866 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Concrete Pumping by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 38,239 shares of the company’s stock valued at $230,000 after buying an additional 1,623 shares during the last quarter. 34.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Concrete Pumping Stock Performance

Shares of BBCP stock opened at $7.21 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.19. Concrete Pumping Holdings, Inc. has a 52 week low of $5.05 and a 52 week high of $8.48. The firm has a 50 day moving average of $5.85 and a 200-day moving average of $6.16. The company has a market cap of $385.95 million, a price-to-earnings ratio of 27.73 and a beta of 1.13.

Concrete Pumping (NASDAQ:BBCP) last issued its earnings results on Wednesday, September 4th. The company reported $0.13 earnings per share (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 the consensus estimate 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 business earned $0.17 earnings per share. On average, equities analysts forecast that Concrete Pumping Holdings, Inc. will post 0.27 earnings per share for the current year.

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.