Bird Construction (TSE:BDT) Price Target Raised to C$37.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its price target on Bird Construction from C$33.00 to C$37.00 and maintained a "buy" rating, implying roughly an 8.9% upside from the prior close.
• Analyst sentiment is broadly bullish — MarketBeat shows an average rating of "Buy" with an average price target of C$39.88, and several firms (e.g., National Bank to C$39, ATB Cormark to C$38) have recently lifted targets.
• Shares traded at C$33.99 on heavy volume; Bird Construction has a market cap of ~C$1.88 billion, a P/E around 20, quarterly EPS of C$0.57, and strong ROE (21.4%) but a modest net margin (2.72%).

Bird Construction (TSE:BDT - Get Free Report) had its price target hoisted by analysts at Canaccord Genuity Group from C$33.00 to C$37.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 8.86% from the company's previous close.

BDT has been the topic of a number of other research reports. National Bank Financial increased their price objective on shares of Bird Construction from C$34.00 to C$39.00 and gave the company an "outperform" rating in a research report on Friday. BMO Capital Markets decreased their target price on shares of Bird Construction from C$37.00 to C$34.00 in a research note on Thursday, November 13th. Raymond James Financial set a C$34.00 price target on Bird Construction and gave the company an "outperform" rating in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce dropped their price target on Bird Construction from C$37.00 to C$36.00 in a research note on Friday, November 14th. Finally, ATB Cormark Capital Markets lifted their price objective on Bird Construction from C$35.00 to C$38.00 and gave the stock an "outperform" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$39.88.

Bird Construction Stock Performance

Shares of TSE:BDT traded up C$1.15 during midday trading on Friday, reaching C$33.99. 396,926 shares of the company's stock traded hands, compared to its average volume of 229,563. The company has a debt-to-equity ratio of 75.72, a quick ratio of 1.20 and a current ratio of 1.28. Bird Construction has a one year low of C$17.52 and a one year high of C$34.75. The company has a market cap of C$1.88 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 0.53 and a beta of 0.68. The stock has a 50 day moving average of C$30.83 and a 200 day moving average of C$28.96.

Bird Construction (TSE:BDT - Get Free Report) last released its quarterly earnings data on Wednesday, March 11th. The company reported C$0.57 EPS for the quarter. The company had revenue of C$877.01 million during the quarter. Bird Construction had a return on equity of 21.42% and a net margin of 2.72%. As a group, equities research analysts anticipate 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.

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.