Bird Construction (TSE:BDT) Reaches New 1-Year High – Here’s Why

Bird Construction Inc. (TSE:BDT) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$31.80 and last traded at C$31.73, with a volume of 178042 shares. The stock had previously closed at C$31.42.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BDT shares. Canadian Imperial Bank of Commerce lowered their target price on Bird Construction from C$37.00 to C$36.00 in a research note on Friday, November 14th. Raymond James Financial set a C$34.00 target price on Bird Construction and gave the company an “outperform” rating in a report on Tuesday, January 20th. TD Securities boosted their target price on shares of Bird Construction from C$32.00 to C$36.00 and gave the company a “buy” rating in a report on Monday, October 27th. ATB Capital lifted their target price on Bird Construction from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, BMO Capital Markets cut their price target on Bird Construction from C$37.00 to C$34.00 in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$35.50.

Bird Construction Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 74.70. The company has a 50 day simple moving average of C$29.24 and a 200-day simple moving average of C$28.27. The stock has a market cap of C$1.76 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 0.53 and a beta of 0.68.

Bird Construction (TSE:BDT) last announced its quarterly earnings results on Wednesday, November 12th. The company reported C$0.57 earnings per share for the quarter. The firm had revenue of C$951.43 million for the quarter. Bird Construction had a return on equity of 26.11% and a net margin of 2.81%. Research analysts expect that Bird Construction Inc. will post 2.7598533 EPS for the current year.

Bird Construction Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 19th were paid a $0.07 dividend. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, November 28th. Bird Construction’s dividend payout ratio (DPR) is 48.04%.

Insider Activity

In other Bird Construction news, insider Wayne Richard Gingrich purchased 1,100 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of C$25.26 per share, for a total transaction of C$27,786.00. Following the completion of the acquisition, the insider owned 14,000 shares of the company’s stock, valued at C$353,640. The trade was a 8.53% increase in their position. In the last three months, insiders have acquired 8,300 shares of company stock valued at $210,360. Corporate insiders own 3.03% of the company’s stock.

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.