Raymond James Financial Issues Positive Forecast for Bird Construction (TSE:BDT) Stock Price

Key Points

• Raymond James raised its price target on Bird Construction from C$44.00 to C$54.00, implying about a 9.5% upside from the prior close.
• Multiple brokers have boosted targets recently (Jefferies to C$63.00, BMO to C$52.00, CIBC to C$52.00), leaving a consensus price target of C$52.90 and eight analysts with a Buy rating.
• Shares traded at C$49.30 on the report with a market cap of C$2.73 billion; latest quarterly EPS was C$0.57 on C$877.01 million revenue, and the stock carries a P/E of 57.33.

Bird Construction (TSE:BDT - Get Free Report) had its price target hoisted by stock analysts at Raymond James Financial from C$44.00 to C$54.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Raymond James Financial's target price indicates a potential upside of 9.53% from the stock's previous close.

BDT has been the subject of a number of other reports. BMO Capital Markets boosted their target price on shares of Bird Construction from C$38.00 to C$52.00 and gave the company an "outperform" rating in a research report on Thursday, March 26th. ATB Cormark Capital Markets boosted their target price on shares of Bird Construction from C$38.00 to C$48.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Jefferies Financial Group boosted their target price on shares of Bird Construction from C$44.00 to C$63.00 in a research report on Monday. Canadian Imperial Bank of Commerce boosted their target price on shares of Bird Construction from C$40.00 to C$52.00 in a research report on Thursday, April 9th. Finally, National Bank Financial boosted their target price on shares of Bird Construction from C$39.00 to C$48.00 and gave the company an "outperform" rating in a research report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Bird Construction has an average rating of "Buy" and a consensus price target of C$52.90.

Bird Construction Stock Performance

Shares of TSE:BDT traded up C$0.25 on Wednesday, hitting C$49.30. 273,945 shares of the company were exchanged, compared to its average volume of 259,663. Bird Construction has a 1-year low of C$20.71 and a 1-year high of C$50.35. The stock's 50 day moving average price is C$38.45 and its 200 day moving average price is C$32.32. The company has a current ratio of 1.26, a quick ratio of 1.20 and a debt-to-equity ratio of 75.66. The firm has a market capitalization of C$2.73 billion, a P/E ratio of 57.33, a price-to-earnings-growth ratio of 0.53 and a beta of 0.14.

Bird Construction (TSE:BDT - Get Free Report) last posted its earnings results on Wednesday, March 11th. The company reported C$0.57 earnings per share (EPS) for the quarter. The company had revenue of C$877.01 million during the quarter. Bird Construction had a net margin of 1.40% and a return on equity of 10.81%. Sell-side analysts predict that Bird Construction will post 2.7598533 EPS 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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