Bird Construction (TSE:BDT) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised its price target on Bird Construction from C$35.00 to C$38.00 and kept an "outperform" rating, implying about a 11.8% upside from the prior close.
• Analyst sentiment is broadly positive with an average rating of Buy (one Strong Buy, six Buy) and an average price target of C$39.88, while firms like National Bank also raised targets to C$39.00.
• Bird's shares traded up 3.5% to C$33.99, the company has a market cap of C$1.88 billion and recent quarterly results showed EPS of C$0.57 on C$877.0 million of revenue (P/E ~19.99).

Bird Construction (TSE:BDT - Get Free Report) had its price target hoisted by investment analysts at ATB Cormark Capital Markets from C$35.00 to C$38.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price points to a potential upside of 11.80% from the stock's previous close.

Several other research firms have also issued reports on BDT. National Bank Financial upped their target price on Bird Construction from C$34.00 to C$39.00 and gave the stock an "outperform" rating in a report on Friday. Canadian Imperial Bank of Commerce decreased their price target on Bird Construction from C$37.00 to C$36.00 in a research note on Friday, November 14th. Raymond James Financial set a C$34.00 price objective on Bird Construction and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. Finally, BMO Capital Markets cut their price objective on Bird Construction from C$37.00 to C$34.00 in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, Bird Construction currently has an average rating of "Buy" and an average price target of C$39.88.

Bird Construction Stock Up 3.5%

BDT traded up C$1.15 during trading hours on Friday, hitting C$33.99. 396,926 shares of the company's stock were exchanged, compared to its average volume of 229,563. The stock has a market cap of C$1.88 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.53 and a beta of 0.68. Bird Construction has a 1-year low of C$17.52 and a 1-year high of C$34.75. The stock's 50-day moving average is C$30.83 and its two-hundred day moving average is C$28.96. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 75.72.

Bird Construction (TSE:BDT - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The company reported C$0.57 earnings per share (EPS) for the quarter. Bird Construction had a net margin of 2.72% and a return on equity of 21.42%. The firm had revenue of C$877.01 million for the quarter. Sell-side analysts predict that Bird Construction will post 2.7598533 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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