Canaccord Genuity Group Forecasts Strong Price Appreciation for Bird Construction (TSE:BDT) Stock

Bird Construction (TSE:BDT) had its price objective hoisted by Canaccord Genuity Group from C$50.00 to C$62.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 7.60% from the stock’s current price.

Several other research firms also recently issued reports on BDT. Stifel Nicolaus set a C$55.00 price objective on Bird Construction and gave the company a “buy” rating in a report on Friday, April 17th. ATB Cormark Capital Markets boosted their price objective on Bird Construction from C$48.00 to C$57.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets upgraded Bird Construction from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$55.00 to C$60.00 in a report on Friday. National Bank Financial upped their price target on Bird Construction from C$39.00 to C$48.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Finally, TD Securities upped their price target on Bird Construction from C$31.00 to C$44.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$56.40.

Bird Construction Trading Up 12.8%

Shares of BDT stock traded up C$6.53 on Friday, hitting C$57.62. The stock had a trading volume of 443,309 shares, compared to its average volume of 271,511. The company has a debt-to-equity ratio of 75.66, a current ratio of 1.26 and a quick ratio of 1.20. The firm has a market capitalization of C$3.19 billion, a P/E ratio of 67.00, a P/E/G ratio of 0.53 and a beta of 0.34. Bird Construction has a 1 year low of C$22.40 and a 1 year high of C$58.22. The company’s 50 day moving average price is C$42.49 and its 200-day moving average price is C$33.89.

Bird Construction (TSE:BDT) last posted its quarterly earnings data on Wednesday, March 11th. The company reported C$0.57 earnings per share (EPS) for the quarter. The firm had revenue of C$877.01 million for the quarter. Bird Construction had a return on equity of 10.81% and a net margin of 1.40%. Analysts anticipate that Bird Construction will post 2.7598533 earnings per share 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.