Bird Construction (TSE:BDT) Given New C$33.00 Price Target at CIBC

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 - Free Report) had its target price trimmed by CIBC from C$35.00 to C$33.00 in a research report sent to investors on Monday,BayStreet.CA reports.

A number of other research firms also recently commented on BDT. National Bankshares dropped their target price 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, August 15th. BMO Capital Markets lifted their price target on shares of Bird Construction from C$28.00 to C$30.00 in a research report on Thursday, May 22nd. Stifel Nicolaus cut their price objective on Bird Construction from C$37.00 to C$34.00 and set a "buy" rating for the company in a research report on Friday, August 15th. TD Securities raised their price objective on Bird Construction from C$26.00 to C$31.00 in a research note on Thursday, May 22nd. Finally, Raymond James Financial lowered Bird Construction from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$32.38.

Bird Construction Price Performance

Shares of BDT traded up C$0.23 during midday trading on Monday, reaching C$23.76. The stock had a trading volume of 246,344 shares, compared to its average volume of 203,469. The company has a debt-to-equity ratio of 74.70, a current ratio of 1.25 and a quick ratio of 1.20. The company has a market capitalization of C$1.33 billion, a P/E ratio of 14.39, a P/E/G ratio of 0.53 and a beta of 1.05. The firm's 50 day moving average price is C$28.19 and its 200-day moving average price is C$24.82. Bird Construction has a 52 week low of C$17.52 and a 52 week high of C$32.67.

Bird Construction Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 20th were issued a $0.07 dividend. The ex-dividend date was Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. Bird Construction's dividend payout ratio is currently 50.87%.

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.