Bird Construction (TSE:BDT) Given New C$50.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its price target on Bird Construction to C$50.00 (from C$37.00) and kept a "buy" rating, implying about a 13.8% upside from the prior close.
• Other brokers have also lifted targets (BMO and CIBC to C$52, National Bank to C$48, Raymond James to C$44), leaving a consensus target of C$47.88 and seven analysts with a "Buy" rating.
• Bird traded at C$43.95 (down ~1.2% intraday), with a market cap of C$2.43 billion, a P/E of 51.1, and a 52-week range of C$20.32–C$48.52.

Bird Construction (TSE:BDT - Get Free Report) had its price target hoisted by investment analysts at Canaccord Genuity Group from C$37.00 to C$50.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 13.77% from the stock's previous close.

A number of other analysts have also commented on the company. BMO Capital Markets lifted their price target on Bird Construction from C$38.00 to C$52.00 and gave the stock an "outperform" rating in a report on Thursday, March 26th. National Bank Financial lifted their price target on Bird Construction from C$39.00 to C$48.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Canadian Imperial Bank of Commerce lifted their price target on Bird Construction from C$40.00 to C$52.00 in a report on Thursday, April 9th. Raymond James Financial lifted their price target on Bird Construction from C$34.00 to C$44.00 and gave the stock an "outperform" rating in a report on Friday, March 13th. Finally, ATB Cormark Capital Markets lifted their price target on Bird Construction from C$35.00 to C$38.00 and gave the stock an "outperform" rating in a report on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Bird Construction currently has an average rating of "Buy" and a consensus price target of C$47.88.

Bird Construction Stock Down 1.2%

BDT traded down C$0.52 during midday trading on Friday, hitting C$43.95. The company had a trading volume of 204,146 shares, compared to its average volume of 259,054. Bird Construction has a 52 week low of C$20.32 and a 52 week high of C$48.52. The company has a quick ratio of 1.20, a current ratio of 1.26 and a debt-to-equity ratio of 75.66. The company has a market capitalization of C$2.43 billion, a price-to-earnings ratio of 51.10, a PEG ratio of 0.53 and a beta of 0.14. The stock's 50 day moving average price is C$35.95 and its 200 day moving average price is C$31.40.

Bird Construction (TSE:BDT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The company reported C$0.57 EPS for the quarter. The firm had revenue of C$877.01 million during the quarter. Bird Construction had a return on equity of 10.81% and a net margin of 1.40%. On average, research analysts anticipate that Bird Construction will post 2.7598533 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.