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

Key Points

• ATB Cormark raised Bird Construction’s price target to C$87 from C$57 and maintained an “outperform” rating, implying 17.16% upside from the prior close.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy, with an average price target of C$75.60. Other brokerages have also recently increased their targets, including Canaccord Genuity and CIBC to C$83.
• Bird Construction shares rose to C$74.26 on Friday, near their 52-week high of C$78.64. The company recently reported quarterly EPS of C$0.70 and revenue of C$1.04 billion.

Bird Construction (TSE:BDT - Get Free Report) had its price target increased by stock analysts at ATB Cormark Capital Markets from C$57.00 to C$87.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target would indicate a potential upside of 17.16% from the company's previous close.

BDT has been the subject of a number of other reports. TD upped their price objective on shares of Bird Construction from C$63.00 to C$72.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Canaccord Genuity Group lifted their target price on shares of Bird Construction from C$62.00 to C$83.00 in a research report on Friday. Jefferies Financial Group upped their price target on shares of Bird Construction from C$44.00 to C$63.00 in a research report on Monday, April 27th. National Bank Financial raised their price objective on shares of Bird Construction from C$57.00 to C$72.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Bird Construction from C$71.00 to C$83.00 in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$75.60.

Bird Construction Price Performance

Shares of BDT traded up C$2.38 during trading hours on Friday, hitting C$74.26. 407,577 shares of the company were exchanged, compared to its average volume of 278,381. The company has a market capitalization of C$4.11 billion, a PE ratio of 82.51, a PEG ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 88.19, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a fifty day simple moving average of C$65.99 and a 200-day simple moving average of C$50.38. Bird Construction has a one year low of C$22.40 and a one year high of C$78.64.

Bird Construction (TSE:BDT - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share (EPS) for the quarter. Bird Construction had a return on equity of 11.25% and a net margin of 1.43%.The company had revenue of C$1.04 billion for the quarter. As a group, sell-side analysts predict that Bird Construction will post 2.7598533 earnings per share for the current 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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