Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Bird Construction (TSE:BDT) Stock

Bird Construction (TSE:BDT – Get Free Report) had its price objective raised by stock analysts at Canadian Imperial Bank of Commerce from C$71.00 to C$83.00 in a research note issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 11.77% from the company’s previous close.

BDT has been the subject of several other research reports. TD increased their price target on shares of Bird Construction from C$63.00 to C$72.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group upped their price objective on shares of Bird Construction from C$62.00 to C$83.00 in a research note on Friday. Stifel Nicolaus set a C$55.00 target price on shares of Bird Construction and gave the stock a “buy” rating in a report on Friday, April 17th. National Bank Financial raised their target price on Bird Construction from C$57.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, BMO Capital Markets boosted their price target on Bird Construction from C$75.00 to C$85.00 in a report on Thursday. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, Bird Construction currently has a consensus rating of “Buy” and a consensus price target of C$75.60.

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Bird Construction Trading Up 3.3%

Bird Construction stock traded up C$2.38 during trading hours on Friday, reaching C$74.26. The company had a trading volume of 407,577 shares, compared to its average volume of 278,381. The company has a debt-to-equity ratio of 88.19, a current ratio of 1.24 and a quick ratio of 1.20. Bird Construction has a 12-month low of C$22.40 and a 12-month high of C$78.64. The company has a 50-day moving average price of C$65.99 and a 200 day moving average price of C$50.38. The firm has a market cap of C$4.11 billion, a price-to-earnings ratio of 82.51, a P/E/G ratio of 0.53 and a beta of 0.34.

Bird Construction (TSE:BDT – Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share (EPS) for the quarter. Bird Construction had a net margin of 1.43% and a return on equity of 11.25%. The firm had revenue of C$1.04 billion for the quarter. Equities analysts forecast that Bird Construction will post 2.7598533 earnings per share for the current year.

About Bird Construction

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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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