Canadian Imperial Bank of Commerce Issues Positive Forecast for Bird Construction (TSE:BDT) Stock Price

Bird Construction (TSE:BDT) had its price target upped by analysts at Canadian Imperial Bank of Commerce from C$65.00 to C$71.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price objective indicates a potential upside of 5.58% from the stock’s current price.

A number of other brokerages also recently issued reports on BDT. Canaccord Genuity Group upped their price target on Bird Construction from C$50.00 to C$62.00 and gave the company a “buy” rating in a report on Friday, May 15th. Jefferies Financial Group raised their target price on Bird Construction from C$44.00 to C$63.00 in a report on Monday, April 27th. ATB Cormark Capital Markets upped their price target on shares of Bird Construction from C$48.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Stifel Nicolaus set a C$55.00 price target on Bird Construction and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, National Bank Financial set a C$57.00 price objective on Bird Construction and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, Bird Construction currently has an average rating of “Buy” and an average target price of C$61.10.

Bird Construction Price Performance

Shares of TSE BDT traded up C$0.50 during mid-day trading on Wednesday, reaching C$67.25. 100,527 shares of the company were exchanged, compared to its average volume of 269,331. The company’s 50 day moving average price is C$58.58 and its 200 day moving average price is C$42.75. Bird Construction has a 52 week low of C$22.40 and a 52 week high of C$67.25. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 88.19. The stock has a market capitalization of C$3.73 billion, a PE ratio of 74.72, a PEG ratio of 0.53 and a beta of 0.34.

Bird Construction (TSE:BDT) last released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.25 EPS for the quarter. The business had revenue of C$783.37 million during the quarter. Bird Construction had a return on equity of 11.25% and a net margin of 1.43%. Sell-side analysts forecast that Bird Construction will post 2.7598533 earnings per share for the current fiscal 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.