Bird Construction (TSE:BDT) Price Target Raised to C$87.00

Key Points

• CIBC raised Bird Construction’s price target to C$87 from C$83, implying 15.52% potential upside from the previous close.
• Analyst sentiment remains positive overall: eight analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target of C$76.00.
• Bird Construction reported quarterly EPS of C$0.70 on revenue of C$1.04 billion; shares recently traded at C$75.31, with a market capitalization of approximately C$4.17 billion.

Bird Construction (TSE:BDT - Get Free Report) had its price objective boosted by Canadian Imperial Bank of Commerce from C$83.00 to C$87.00 in a research report issued to clients and investors on Thursday, BayStreet reports. Canadian Imperial Bank of Commerce's target price would indicate a potential upside of 15.52% from the stock's previous close.

A number of other equities research analysts have also issued reports on BDT. Canaccord Genuity Group lowered shares of Bird Construction from a "buy" rating to a "hold" rating and set a C$83.00 target price for the company. in a report on Thursday, October 15th. ATB Cormark Capital Markets raised their price target on shares of Bird Construction from C$57.00 to C$87.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Stifel Nicolaus upped their price objective on shares of Bird Construction from C$85.00 to C$87.00 and gave the company a "buy" rating in a research note on Friday, August 14th. BMO Capital Markets increased their price objective on shares of Bird Construction from C$75.00 to C$85.00 in a report on Thursday, August 13th. Finally, National Bank Financial raised their target price on shares of Bird Construction from C$72.00 to C$92.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$76.00.

Bird Construction Price Performance

Bird Construction stock traded down C$0.02 during trading on Thursday, reaching C$75.31. The company had a trading volume of 234,796 shares, compared to its average volume of 303,675. The firm has a market capitalization of C$4.17 billion, a PE ratio of 70.38, a price-to-earnings-growth ratio of 0.53 and a beta of 0.14. The firm's 50-day simple moving average is C$75.10 and its 200 day simple moving average is C$55.85. The company has a debt-to-equity ratio of 93.81, a quick ratio of 1.20 and a current ratio of 1.32. Bird Construction has a 1-year low of C$23.56 and a 1-year high of C$86.50.

Bird Construction (TSE:BDT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share for the quarter. The firm had revenue of C$1.04 billion for the quarter. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. As a group, equities research analysts anticipate that Bird Construction will post 2.76 earnings per share for the current fiscal 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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