CIBC Cuts Badger Infrastructure Solutions (TSE:BDGI) Price Target to C$49.00

Badger Infrastructure Solutions (TSE:BDGI - Free Report) had its price target lowered by CIBC from C$50.00 to C$49.00 in a research report released on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

BDGI has been the topic of a number of other reports. Raymond James decreased their price target on Badger Infrastructure Solutions from C$50.00 to C$46.00 and set an "outperform" rating on the stock in a report on Friday. BMO Capital Markets dropped their target price 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, August 2nd. Canaccord Genuity Group decreased their price target on shares of Badger Infrastructure Solutions from C$60.00 to C$55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 9th. Finally, Stifel Nicolaus cut their price objective on Badger Infrastructure Solutions from C$56.00 to C$51.00 and set a "buy" rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$48.81.

Badger Infrastructure Solutions Stock Performance

Shares of BDGI stock traded down C$0.08 on Friday, reaching C$36.14. The stock had a trading volume of 158,185 shares, compared to its average volume of 72,220. The stock has a market cap of C$1.25 billion, a P/E ratio of 22.04 and a beta of 1.14. The company has a debt-to-equity ratio of 97.25, a quick ratio of 1.49 and a current ratio of 1.65. Badger Infrastructure Solutions has a 1 year low of C$34.85 and a 1 year high of C$51.50. The company has a 50 day simple moving average of C$38.20 and a 200 day simple moving average of C$39.99.

Badger Infrastructure Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.72 dividend on an annualized basis and a yield of 1.99%. Badger Infrastructure Solutions's dividend payout ratio is currently 43.90%.

Insider Activity at Badger Infrastructure Solutions

In other news, Senior Officer Julie Lee purchased 751 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of C$35.51 per share, for a total transaction of C$26,667.71. In other Badger Infrastructure Solutions news, Senior Officer Julie Lee acquired 751 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of C$35.51 per share, for a total transaction of C$26,667.71. Also, Senior Officer Pradeep Atluri acquired 2,000 shares of Badger Infrastructure Solutions stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of C$35.45 per share, with a total value of C$70,902.00. Over the last quarter, insiders bought 4,242 shares of company stock worth $137,096. Company insiders own 0.33% of the company's stock.

About Badger Infrastructure Solutions

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.