Canadian Imperial Bank of Commerce Boosts Bird Construction (TSE:BDT) Price Target to C$83.00

Key Points

• Canadian Imperial Bank of Commerce raised Bird Construction’s price target to C$83 from C$71, implying 11.77% upside from the previous close.
• Analyst sentiment remains positive: nine analysts rate the stock a Buy, with a consensus price target of C$75.60. BMO Capital Markets has set the highest cited target at C$85.
• Bird Construction shares rose to C$74.26, near their 12-month 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 target price lifted by analysts at Canadian Imperial Bank of Commerce from C$71.00 to C$83.00 in a research note issued to investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target suggests a potential upside of 11.77% from the company's previous close.

Several other equities research analysts have also issued reports on BDT. ATB Cormark Capital Markets lifted their target price on shares of Bird Construction from C$48.00 to C$57.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. National Bank Financial raised their price objective on shares of Bird Construction from C$57.00 to C$72.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Raymond James Financial upped their target price on shares of Bird Construction from C$54.00 to C$60.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. BMO Capital Markets raised their price target on Bird Construction from C$75.00 to C$85.00 in a research report on Thursday. Finally, Stifel Nicolaus set a C$55.00 price objective on Bird Construction and gave the company a "buy" rating in a research report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$75.60.

Bird Construction Price Performance

Shares of BDT stock traded up C$2.38 on Friday, reaching C$74.26. The company's stock had a trading volume of 407,577 shares, compared to its average volume of 278,381. Bird Construction has a 12-month low of C$22.40 and a 12-month high of C$78.64. The stock's 50 day simple moving average is C$65.99 and its 200-day simple moving average is C$50.38. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 88.19. The company has a market capitalization of C$4.11 billion, a P/E ratio of 82.51, a PEG ratio of 0.53 and a beta of 0.34.

Bird Construction (TSE:BDT - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share for the quarter. The firm had revenue of C$1.04 billion for the quarter. Bird Construction had a return on equity of 11.25% and a net margin of 1.43%. As a group, equities analysts predict 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.

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