CIBC Trims Badger Infrastructure Solutions (TSE:BDGI) Target Price to C$50.00

Badger Infrastructure Solutions (TSE:BDGI) had its price target cut by stock analysts at CIBC from C$52.00 to C$50.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective would indicate a potential upside of 38.89% from the stock’s current price.

Several other brokerages have also weighed in on BDGI. Stifel Nicolaus lifted their price target on Badger Infrastructure Solutions from C$62.00 to C$63.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Canaccord Genuity Group reduced their target price on Badger Infrastructure Solutions from C$60.00 to C$55.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Raymond James cut their price target on shares of Badger Infrastructure Solutions from C$54.00 to C$50.00 and set an “outperform” rating for the company in a report on Tuesday. BMO Capital Markets reduced their price objective on shares of Badger Infrastructure Solutions from C$45.00 to C$42.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Scotiabank cut their target price on shares of Badger Infrastructure Solutions from C$52.00 to C$48.50 and set a “sector perform” rating for the company in a research note on Monday, May 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$50.00.

Badger Infrastructure Solutions Stock Performance

BDGI stock traded down C$0.22 during midday trading on Tuesday, reaching C$36.00. The stock had a trading volume of 141,319 shares, compared to its average volume of 65,029. The company has a debt-to-equity ratio of 100.32, a quick ratio of 1.49 and a current ratio of 1.72. The firm has a fifty day simple moving average of C$39.81 and a two-hundred day simple moving average of C$44.04. The stock has a market cap of C$1.24 billion, a PE ratio of 22.36 and a beta of 1.18. Badger Infrastructure Solutions has a 52-week low of C$32.25 and a 52-week high of C$51.50.

Insiders Place Their Bets

In other Badger Infrastructure Solutions news, Director Robert Dawson purchased 1,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of C$43.40 per share, with a total value of C$69,441.44. In other Badger Infrastructure Solutions news, Director Mary Jordan purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of C$41.72 per share, for a total transaction of C$41,720.00. Also, Director Robert Dawson acquired 1,600 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average price of C$43.40 per share, for a total transaction of C$69,441.44. Insiders purchased 8,600 shares of company stock valued at $349,196 in the last three months. 0.39% of the stock is currently owned by insiders.

Badger Infrastructure Solutions Company Profile

Badger Infrastructure Solutions Ltd. provides non-destructive excavating and related services in Canada and the United States. Its Badger Hydrovac technology uses a pressurized water stream to liquefy the soil cover, which is then removed with a vacuum system and deposited into a storage tank. The company offers daylighting services for visual confirmation of buried lines, directional drilling test holes, sacrificial anode installation, pipeline and utility crossings, and subsurface utility engineering test holes applications; and debris removal services for frac tank clean-outs, road and box culvert clean-outs, pipe-rammed casing clean-outs, ballast and filter media removal, and inside structures and buildings material removal.