Bird Construction (TSE:BDT) Shares Cross Above 200-Day Moving Average – Here’s Why

Bird Construction Inc. (TSE:BDT)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$23.93 and traded as high as C$28.89. Bird Construction shares last traded at C$28.79, with a volume of 102,335 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BDT. Canaccord Genuity Group reduced their target price on shares of Bird Construction from C$36.00 to C$35.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Raymond James Financial upgraded shares of Bird Construction from an “outperform” rating to a “strong-buy” rating and set a C$35.00 target price on the stock in a report on Tuesday, April 22nd. TD Securities lifted their target price on shares of Bird Construction from C$26.00 to C$31.00 in a report on Thursday, May 22nd. CIBC lifted their target price on shares of Bird Construction from C$31.00 to C$31.50 in a report on Thursday, May 22nd. Finally, BMO Capital Markets lifted their target price on shares of Bird Construction from C$28.00 to C$30.00 in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$32.44.

Bird Construction Price Performance

The stock has a market cap of C$1.61 billion, a PE ratio of 17.43, a P/E/G ratio of 0.53 and a beta of 1.05. 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’s 50 day moving average is C$25.88 and its 200-day moving average is C$23.93.

Bird Construction Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, May 20th. Investors of record on Tuesday, May 20th were paid a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, April 30th. Bird Construction’s dividend payout ratio (DPR) is 50.87%.

Bird Construction Company Profile

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.