Bird Construction (TSE:BDT) Given New C$52.00 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Bird Construction to C$52.00 (from C$40.00), implying about a 14.29% upside from the previous close.
• Multiple analysts have boosted targets recently—seven rate the stock a "Buy"—with a consensus average target of C$44.50.
• Shares traded at C$45.50 mid-day (market cap C$2.52B), with a P/E of 52.91; the company reported Q4 EPS of C$0.57 on C$877.01M revenue and a 52-week range of C$18.84–C$46.05.

Bird Construction (TSE:BDT - Get Free Report) had its price target boosted by Canadian Imperial Bank of Commerce from C$40.00 to C$52.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective suggests a potential upside of 14.29% from the stock's previous close.

Several other equities research analysts have also recently weighed in on BDT. BMO Capital Markets raised their price objective on shares of Bird Construction from C$38.00 to C$52.00 and gave the company an "outperform" rating in a research report on Thursday, March 26th. Raymond James Financial raised their price objective on shares of Bird Construction from C$34.00 to C$44.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. National Bank Financial raised their price objective on shares of Bird Construction from C$39.00 to C$48.00 and gave the company an "outperform" rating in a research report on Wednesday. TD Securities raised their price objective on shares of Bird Construction from C$31.00 to C$44.00 and gave the company a "buy" rating in a research report on Monday, March 16th. Finally, ATB Cormark Capital Markets raised their price objective on shares of Bird Construction from C$35.00 to C$38.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Bird Construction currently has a consensus rating of "Buy" and an average target price of C$44.50.

Bird Construction Price Performance

Shares of Bird Construction stock traded up C$1.84 during mid-day trading on Thursday, reaching C$45.50. 226,913 shares of the stock were exchanged, compared to its average volume of 250,875. The company has a market cap of C$2.52 billion, a price-to-earnings ratio of 52.91, a price-to-earnings-growth ratio of 0.53 and a beta of 0.14. The company has a current ratio of 1.26, a quick ratio of 1.20 and a debt-to-equity ratio of 75.66. The firm has a 50-day simple moving average of C$34.06 and a 200 day simple moving average of C$30.68. Bird Construction has a fifty-two week low of C$18.84 and a fifty-two week high of C$46.05.

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