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Investing.com - DA Davidson raised its price target on Concrete Pumping Holding Inc (NASDAQ:BBCP) to $8.50 from $8.00 on Monday, while maintaining a Buy rating on the stock. The company, currently trading at $7.33 with a market cap of $378 million, commands a P/E ratio of 46.8x, according to InvestingPro data.
The price target increase follows Concrete Pumping’s fiscal third-quarter results, which DA Davidson noted were "largely aligned with expectations" despite ongoing market pressure. While revenue declined 9% year-over-year, the stock has shown remarkable resilience, gaining nearly 64% over the past year and about 10% in the last week alone.
DA Davidson highlighted several positive factors supporting its continued constructive view, including sustained free cash flow and further gains in the company’s Waste Management segment. The firm also noted that near-term guidance appears "better aligned with the current demand climate."
The research firm pointed to Concrete Pumping’s positive free cash flow, which it described as "hovering around a 10% yield," enhancing confidence in both "business longevity in a challenged market and overall downside risk." InvestingPro analysis confirms this strong financial position, showing a healthy current ratio of 1.75 and revealing that liquid assets exceed short-term obligations. For deeper insights into BBCP’s financial health metrics and growth potential, check out the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
DA Davidson sees "attractive leverage in an eventual recovery scenario," which it suggested could begin with an interest rate cut cycle, reduced tariff uncertainties, or other catalysts that might advance delayed projects.
In other recent news, Concrete Pumping Holdings reported its third-quarter earnings for 2025, showing a decline in both revenue and net income compared to the previous year. The company reported revenue of $103.7 million, down from $109.6 million, and net income decreased to $3.3 million, or $0.07 per diluted share, from $7.1 million, or $0.13 per share, the previous year. Despite these declines, the company expressed optimism about future prospects, particularly in the infrastructure sector. In related developments, DA Davidson raised its price target for Concrete Pumping Holdings to $8.50 from $8.00, while maintaining a Buy rating on the stock. The firm highlighted sustained free cash flow and gains in the company’s Waste Management segment as positive factors. These recent developments provide investors with important insights into the company’s current performance and future outlook.
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