Canadian Imperial Bank of Commerce Raises Bird Construction (TSE:BDT) Price Target to C$61.00

Bird Construction (TSE:BDT) had its price objective hoisted by equities researchers at Canadian Imperial Bank of Commerce from C$52.00 to C$61.00 in a research report issued on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 3.44% from the company’s current price.

Several other analysts have also recently commented on the stock. BMO Capital Markets upgraded shares of Bird Construction from a “hold” rating to an “outperform” rating and raised their target price for the stock from C$55.00 to C$60.00 in a research note on Friday. Jefferies Financial Group raised their target price on shares of Bird Construction from C$44.00 to C$63.00 in a research note on Monday, April 27th. TD Securities raised their target price on shares of Bird Construction from C$31.00 to C$44.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. National Bank Financial raised their target price on shares of Bird Construction from C$39.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Finally, Raymond James Financial raised their target price on shares of Bird Construction from C$54.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday. 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$58.20.

Bird Construction Stock Performance

Shares of BDT stock traded up C$0.62 during mid-day trading on Tuesday, hitting C$58.97. The stock had a trading volume of 241,593 shares, compared to its average volume of 273,549. Bird Construction has a fifty-two week low of C$22.40 and a fifty-two week high of C$61.10. The firm has a market cap of C$3.27 billion, a PE ratio of 65.52, a PEG ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 88.19, a current ratio of 1.24 and a quick ratio of 1.20. The company’s 50-day simple moving average is C$43.54 and its 200-day simple moving average is C$34.27.

Bird Construction (TSE:BDT) last released its earnings results on Wednesday, March 11th. The company reported C$0.57 EPS for the quarter. Bird Construction had a net margin of 1.43% and a return on equity of 11.25%. The company had revenue of C$877.01 million during the quarter. Sell-side 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.