Home Analyst Ratings Concrete Pumping Holdings Stock Gets an Upgrade from Baird. It's Now...

Concrete Pumping Holdings [BBCP] Stock Gets an Upgrade from Baird. It’s Now Outperform

Baird took its Concrete Pumping Holdings [BBCP] rating to the equivalent of Outperform from Neutral, ‎and the price target to $5, in a research note dated 2021-01-05. That figure represents around a 29.87% ‎premium from where the company’s shares closed on Monday. Other analysts also revised their ‎coverage, with B. Riley FBR’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a ‎research note to investors issued in early September. Meanwhile, UBS had launched its coverage on ‎BBCP with “Neutral”, in a research note produced for clients August 10, 2020. In addition, there was a ‎downgrade from B. Riley FBR on April 03, 2020. The rater changed BBCP from “a Buy” to “a ‎Neutral”.

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Is Concrete Pumping Holdings Inc. ‎‎[NASDAQ:BBCP] a Good Buy Right Now?

It should be noted that BBCP technical indicators for ‎short, intermediate as well as long term progress have placed an overall average of 48% as Buy. The ‎average signal changed from 8% Sell in the last week and compares with 8% Buy in the past month. ‎Data from Concrete Pumping Holdings Inc.’s Trend Spotter indicated that the signals were Falling. The ‎stock current average is 0.16 million shares in the past 20 days and the short term average signal ‎indicates a 50% Buy. In the last 50 days, the average trading volume was 0.11 million shares while the ‎medium term average advocated for Hold. The average long-term signal stands at 100% Buy and the ‎‎100-day average volume stands at 93820.0 shares.

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BBCP Price Performance

On Wall Street, ‎Concrete Pumping Holdings Inc. [NASDAQ:BBCP] finished Monday’s session up 0.52% at $3.85. The ‎stock went up to $3.94 at the same session while its lowest single day price was $3.754. In the last five ‎days, it saw a rise of about 6.94%, Concrete Pumping Holdings Inc. shares gained by almost 0.52% since ‎the beginning of the year. However, the share price has dropped to as low as -36.93% below its one ‎year high. On 01/04/21, the company shares recorded $3.94, the highest single-day price it has got to in ‎the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $3.75. The company’s ‎shares have declined by -27.50% in the past year. The 50-day SMA achieved is $3.58 while the 200-day ‎SMA is $3.45. Volume gained to 0.16 million from 0.12 million in the previous session.

BBCP Stock ‎Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around ‎‎3.76 level, and in case of violation of this particular level, it will cause more drop to 3.66 level. On the ‎upper level, 4.03 is still the key resistance. The stock may increase to the subsequent resistance at ‎‎3.94. The Relative Strength Index (RSI) pinned on the 14-day chart is 58.63, implying a neutral technical ‎stance while the MACD stands at 0.17, meaning price will decrease in the next trading period. Percent ‎R indicator moved to 19.47%, implying bullish price movement. Stochastic %K at 79.30% suggest selling ‎the stock.

What is the short interest in Concrete Pumping Holdings Inc.?

Short interest in the ‎Concrete Pumping Holdings Inc. stock has surged, increasing by 0.12 million shares to total 0.43 million ‎shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.54 million, data from ‎Yahoo Finance shows. The decrease of -26.96% suggests the stock saw some decreased bullish ‎sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just ‎‎1.66% of the overall float for the stock.

BBCP Earnings Forecast For The Current ‎Quarter

Concrete Pumping Holdings Inc. [BBCP] is expected to report strong earnings results for ‎the quarter ending on Oct 2020. Consensus estimates give the company expected revenues of ‎‎$79.93M and an earnings per share of $0.04 for Oct 2020. Looking further ahead, the company is ‎expected to report revenue of $71.77M at an EPS of -$0.02 for Jan 2021. The estimates represent ‎downside of 1.00% and 112.30% in the company’s revenue and earnings per share, respectively, on a ‎year-on-year basis.

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BBCP Earnings Estimates For ‎The Current Year

For the financial year, Concrete Pumping Holdings Inc. [NASDAQ:BBCP] is ‎expected to bring in revenue of $305.04M. The returns are nearly $22.08 million higher than the ‎company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it ‎at -1.06, lower than that of FY19 by -$0.23. Estimates put this year’s earnings growth at -27.70%, ‎‎112.30% for the next. As for sales, forecasts are for an increase of 7.80% in the current fiscal year and a ‎further 1.00% over the following year.‎

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