There’s a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Concrete Pumping Holdings Inc (BBCP) and Ashford Inc (AINC) with bullish sentiments.
Concrete Pumping Holdings Inc (BBCP)
In a report issued on March 8, 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 $8.32.
Rygiel noted:
“Earlier this morning (3/8), Concrete Pumping Holdings, Inc. (BBCP) issued a press release that included the request/notification to delay the filing of its F1Q19 (Jan) 10-Q, preliminary F1Q19 results, and notification of its upcoming earnings call. All in all, our thesis remains unchanged, as we believe Concrete Pumping is well positioned as the largest provider of concrete pumping services in the U.S. and the U.K. and concrete washout solutions provider in the U.S. We believe the growth outlook remains favorable through organic/greenfield initiatives, potential share gains, and M&A opportunities. We reiterate our Buy rating and $12 price target.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 7.5% and a 58.4% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Quanta Services, and MYR Group.
Currently, the analyst consensus on Concrete Pumping Holdings Inc is a Moderate Buy with an average price target of $12.
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Ashford Inc (AINC)
Ashford Inc received a Buy rating and a $91 price target from B.Riley FBR analyst Bryan Maher today. The company’s shares opened today at $57.27.
Maher observed:
“We are raising our estimates on Ashford Inc. (AINC) after it reported strong 4Q18 results led by impressive growth at its J&S Audio Visual division and given the expanding ERFP initiative with Ashford Hospitality Trust (AHT) and Braemar Hotels & Resorts (BHR). Results in 4Q18 far exceeded ours and the consensus estimates as higher-than-expected revenue from the company’s J&S Audio Visual division ($20.0M vs. our estimate of $16.5M), along with $1.1M in incentive fees, was coupled with expenses that were in line with expectations. Adjusted EBITDA came in at $8.0M, up 65% Y/Y , above our estimate of $5.6M and the consensus estimate of $5.7M. Adjusted EPS came in at $2.20 per share, well above our estimate of $1.15 and the consensus estimate of $1.17. Subsequent to quarter end, Ashford Inc.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -1.1% and a 48.1% success rate. Maher covers the Financial sector, focusing on stocks such as Office Properties Income Trust, Braemar Hotels & Resorts Inc, and Community Healthcare Trust.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ashford Inc with a $91 average price target.
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