Badger Infrastructure Solutions (TSE:BDGI) Hits New 52-Week High - Here's Why

Key Points

• Badger Infrastructure Solutions shares reached a new 52-week high of C$58.88 during trading, with a current price of C$58.53.
• Analysts have issued several positive ratings, with Canaccord Genuity raising the price target from C$52 to C$60 and maintaining a "buy" rating.
• The company recently increased its quarterly dividend to $0.1875 per share, marking an annualized yield of 1.3%.

Badger Infrastructure Solutions Ltd. (TSE:BDGI - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$58.88 and last traded at C$58.53, with a volume of 97318 shares trading hands. The stock had previously closed at C$58.15.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BDGI. Stifel Nicolaus increased their price target on Badger Infrastructure Solutions from C$59.00 to C$63.00 and gave the company a "buy" rating in a research note on Friday, August 1st. BMO Capital Markets increased their price target on Badger Infrastructure Solutions from C$50.00 to C$55.00 in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group increased their price target on Badger Infrastructure Solutions from C$52.00 to C$60.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$56.20.

Badger Infrastructure Solutions Price Performance

The company has a current ratio of 1.73, a quick ratio of 1.49 and a debt-to-equity ratio of 92.49. The stock has a market capitalization of C$1.90 billion, a P/E ratio of 34.63 and a beta of 0.99. The stock has a 50 day moving average of C$52.90 and a 200-day moving average of C$45.08.

Badger Infrastructure Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Badger Infrastructure Solutions's previous quarterly dividend of $0.18. Badger Infrastructure Solutions's dividend payout ratio is 32.31%.

About Badger Infrastructure Solutions

Badger Infrastructure Solutions Ltd is North America's provider of non-destructive excavating services. Its key technology is the Badger Hydrovac, which is used primarily for safe excavation around critical infrastructure and in congested underground conditions. The Badger Hydrovac uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank.