There’s a lot to be optimistic about in the Financial sector as 3 analysts just weighed in on Concrete Pumping Holdings Inc (BBCP), CNO Financial (CNO) and Bluerock Residential Growth (BRG) with bullish sentiments.
Concrete Pumping Holdings Inc (BBCP)
In a report released yesterday, Alex Rygiel from B.Riley FBR reiterated a Buy rating on Concrete Pumping Holdings Inc, with a price target of $12. The company’s shares opened today at $11.37.
Rygiel said:
“Earlier today (3/18), Concrete Pumping Holdings, Inc. announced F1Q19 results, as well as a large acquisition. In summary, the quarter was mostly in line with expectations given the likely negative impact from difficult wet weather conditions that delayed project activity and created equipment and labor inefficiencies. However, the announced agreement to acquire Capital Pumping is a positive surprise at first glance. We reiterate our Buy rating and $12 price target. Our estimates are under review following management’s conference call later today.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 7.7% and a 59.6% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Concrete Pumping Holdings Inc with a $12 average price target.
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CNO Financial (CNO)
In a report released today, Randy Binner from B.Riley FBR maintained a Buy rating on CNO Financial, with a price target of $22. The company’s shares opened today at $17.03.
Binner said:
“After market close on March 18, 2019, CNO announced the resignation of CFO the appointment of the new CFO, Paul McDonough, effective April 1, 2019. Mr. McDonough was previously the CFO of OneBeacon (OB), a P/C insurer that merged with Intact Financial (IFC-TSE) in 2017. We do not believe this change is a reflection of issues with the financials but rather a result of normal management progression. The company re-affirmed its margin (benefit ratio) guidance and our recent meetings with management left us constructive on the sales outlook. We maintain our Buy rating and $24 PT. CNO remains our Alpha Generator pick for the insurance sector.”
According to TipRanks.com, Binner is a 5-star analyst with an average return of 13.8% and a 67.1% success rate. Binner covers the Financial sector, focusing on stocks such as American Equity Investment Life, Health Insurance Innovations, and National General Holdings.
Currently, the analyst consensus on CNO Financial is a Moderate Buy with an average price target of $21.33.
Bluerock Residential Growth (BRG)
In a report released today, Craig Kucera from B.Riley FBR reiterated a Buy rating on Bluerock Residential Growth, with a price target of $12.25. The company’s shares opened today at $10.85, close to its 52-week high of $11.24.
Kucera observed:
“After the market close on March 18, representatives of Harbert Management Corporation publicly disclosed another letter sent to and CEO of Bluerock Residential Growth REIT (BRG), formally requesting that the Board immediately hire a nationally recognized investment bank and commence a comprehensive strategic review. Harbert is now the third largest shareholder of BRG and collectively has $6.4B in AUM, and two offers have been made by Harbert to acquire all of BRG’s capital stock in the past six months. An upwardly revised second offer of $12.25/share for common shares was disclosed in the letter, but has been rescinded after the Board rejected it.”
According to TipRanks.com, Kucera is a 4-star analyst with an average return of 5.1% and a 66.1% success rate. Kucera covers the Financial sector, focusing on stocks such as NexPoint Residential Trust Inc, Urstadt Biddle Properties Inc, and Consolidated-Tomoka Land Co.
Bluerock Residential Growth has an analyst consensus of Moderate Buy, with a price target consensus of $10.50.
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