National Bank Financial Forecasts Strong Price Appreciation for Bird Construction (TSE:BDT) Stock

Key Points

• National Bank Financial raised its Bird Construction price target from C$92 to C$101 and maintained an “outperform” rating, implying 33.53% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target of C$87.10.
• Bird shares fell 1.3% to C$75.64 in Friday trading. 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 National Bank Financial from C$92.00 to C$101.00 in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 33.53% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. Raymond James Financial raised their target price on shares of Bird Construction from C$90.00 to C$95.00 and gave the company an "outperform" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on Bird Construction from C$85.00 to C$87.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Canaccord Genuity Group downgraded Bird Construction from a "buy" rating to a "hold" rating and set a C$83.00 price target on the stock. in a research note on Thursday, October 15th. Canadian Imperial Bank of Commerce raised their price objective on Bird Construction from C$83.00 to C$87.00 in a research report on Thursday, October 29th. Finally, BMO Capital Markets lifted their price objective on Bird Construction from C$95.00 to C$100.00 and gave the company an "outperform" rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$87.10.

Bird Construction Stock Down 1.3%

Shares of BDT stock traded down C$1.01 during mid-day trading on Friday, reaching C$75.64. 307,526 shares of the company's stock traded hands, compared to its average volume of 309,215. Bird Construction has a 12 month low of C$24.39 and a 12 month high of C$86.50. The company has a market cap of C$4.19 billion, a P/E ratio of 70.69, a P/E/G ratio of 0.53 and a beta of -0.01. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 93.81. The company's 50-day moving average price is C$76.13 and its 200-day moving average price is C$58.19.

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. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. The company had revenue of C$1.30 billion during the quarter. On average, equities analysts expect that Bird Construction will post 2.76 earnings per share 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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