Bird Construction (TSE:BDT) Cut to "Hold" at Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded Bird Construction to “hold” from “buy” and set a C$83 price target, implying 8.57% upside from the prior close.
• Despite the downgrade, analyst sentiment remains positive: eight analysts rate the stock a buy and one rates it a hold, producing a “Moderate Buy” consensus and an average target of C$75.60.
• Bird Construction reported quarterly EPS of C$0.70 on C$1.04 billion in revenue, with a 1.63% net margin and 13.41% return on equity; shares recently traded at C$76.45.

Bird Construction (TSE:BDT - Get Free Report) was downgraded by research analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a report released on Thursday, BayStreet reports. They presently have a C$83.00 price objective on the stock. Canaccord Genuity Group's price target indicates a potential upside of 8.57% from the company's previous close.

A number of other equities analysts have also issued reports on the company. National Bank Financial increased their price target on Bird Construction from C$72.00 to C$92.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. BMO Capital Markets lifted their price target on Bird Construction from C$75.00 to C$85.00 in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce boosted their price objective on Bird Construction from C$71.00 to C$83.00 in a research note on Friday, August 14th. ATB Cormark Capital Markets upped their price objective on Bird Construction from C$57.00 to C$87.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Finally, Stifel Nicolaus upped their price objective on Bird Construction from C$85.00 to C$87.00 and gave the company a "buy" rating in a report on Friday, August 14th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$75.60.

Bird Construction Price Performance

Shares of Bird Construction stock traded down C$4.03 on Thursday, hitting C$76.45. The company had a trading volume of 408,198 shares, compared to its average volume of 303,591. The business has a 50-day simple moving average of C$74.21 and a 200-day simple moving average of C$63.64. The company has a debt-to-equity ratio of 93.81, a current ratio of 1.32 and a quick ratio of 1.20. The company has a market cap of C$4.24 billion, a PE ratio of 71.45, a PEG ratio of 0.53 and a beta of 0.14. Bird Construction has a 52 week low of C$23.56 and a 52 week high of C$86.50.

Bird Construction (TSE:BDT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$0.70 EPS for the quarter. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. The business had revenue of C$1.04 billion for the quarter. Research analysts expect that Bird Construction will post 2.76 EPS for the current fiscal year.

Bird Construction Company Profile

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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