ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Bird Construction (TSE:BDT) Stock

Key Points

• ATB Cormark raised Bird Construction’s price target to C$100 from C$87 and maintained an “outperform” rating, implying 32.21% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and one rates it Hold. The consensus is “Moderate Buy,” with a C$87.10 price target.
• Bird shares traded at C$75.64 on Friday, down C$1.01. The company reported quarterly EPS of C$1.13 and revenue of C$1.30 billion.

Bird Construction (TSE:BDT - Get Free Report) had its target price increased by research analysts at ATB Cormark Capital Markets from C$87.00 to C$100.00 in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price objective indicates a potential upside of 32.21% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group lowered Bird Construction from a "buy" rating to a "hold" rating and set a C$83.00 price objective on the stock. in a report on Thursday, October 15th. Raymond James Financial raised their price target on Bird Construction from C$90.00 to C$95.00 and gave the company an "outperform" rating in a report on Thursday. National Bank Financial lifted their price target on Bird Construction from C$92.00 to C$101.00 and gave the company an "outperform" rating in a research note on Friday. BMO Capital Markets upped their price objective on Bird Construction from C$95.00 to C$100.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on Bird Construction from C$100.00 to C$105.00 and gave the stock a "buy" rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$87.10.

Bird Construction Stock Performance

Shares of BDT stock traded down C$1.01 during mid-day trading on Friday, hitting C$75.64. The stock had a trading volume of 307,526 shares, compared to its average volume of 309,215. The firm has a market cap of C$4.19 billion, a PE ratio of 70.69, a PEG ratio of 0.53 and a beta of -0.01. The company's 50-day simple moving average is C$76.13 and its 200-day simple moving average is C$58.19. The company has a debt-to-equity ratio of 93.81, a current ratio of 1.32 and a quick ratio of 1.20. Bird Construction has a fifty-two week low of C$24.39 and a fifty-two week high of C$86.50.

Bird Construction (TSE:BDT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 11th. The company reported C$1.13 earnings per share (EPS) for the quarter. The business had revenue of C$1.30 billion for the quarter. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. Sell-side analysts anticipate that Bird Construction will post 2.76 earnings per share for the current year.

About Bird Construction

Bird Construction Inc operates as a general contractor in the Canadian construction market. The company focuses primarily on projects in the industrial, commercial and institutional sectors of the general contracting industry. It provides construction services such as new construction for industrial, commercial, and institutional markets; industrial maintenance, repair and operations (MRO) services, heavy civil construction and contract surface mining; as well as vertical infrastructure including, electrical, mechanical, and specialty trades.

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