CIBC Has Lowered Expectations for Bird Construction (TSE:BDT) Stock Price

Key Points

• CIBC has reduced its target price for Bird Construction stock from C$35.00 to C$33.00, indicating a potential upside of 38.95% based on the stock's previous close.
• Shares of Bird Construction have seen a decrease of 3.1%, trading at C$23.75, with trading volume significantly higher than its average.
• Despite recent downgrades, the stock maintains an average rating of "Buy" with a consensus target price of C$32.38 from several analysts.

Bird Construction (TSE:BDT - Get Free Report) had its target price cut by CIBC from C$35.00 to C$33.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC's price objective would suggest a potential upside of 38.95% from the stock's previous close.

Several other equities analysts have also weighed in on BDT. BMO Capital Markets upped their price objective on shares of Bird Construction from C$28.00 to C$30.00 in a report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on shares of Bird Construction from C$37.00 to C$34.00 and set a "buy" rating on the stock in a report on Friday. National Bankshares dropped their price objective on shares of Bird Construction from C$28.00 to C$26.00 and set an "outperform" rating on the stock in a report on Friday. Raymond James Financial lowered shares of Bird Construction from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, TD Securities upped their target price on shares of Bird Construction from C$26.00 to C$31.00 in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$32.38.

Bird Construction Stock Down 3.1%

Shares of TSE BDT traded down C$0.76 during trading on Monday, hitting C$23.75. 401,830 shares of the company traded hands, compared to its average volume of 196,497. The business's fifty day moving average is C$28.61 and its 200 day moving average is C$24.83. Bird Construction has a fifty-two week low of C$17.52 and a fifty-two week high of C$32.67. The firm has a market capitalization of C$1.33 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.53 and a beta of 1.05. The company has a debt-to-equity ratio of 74.70, a quick ratio of 1.20 and a current ratio of 1.25.

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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