Bombardier (OTCMKTS:BDRBF) Hits New 12-Month High – What’s Next?

Bombardier Inc. (OTCMKTS:BDRBF)’s share price reached a new 52-week high on Wednesday . The company traded as high as $269.94 and last traded at $262.20, with a volume of 3641 shares changing hands. The stock had previously closed at $264.9150.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BDRBF. TD Securities restated a “hold” rating on shares of Bombardier in a research note on Friday, May 1st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bombardier in a report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of Bombardier in a report on Thursday, July 16th. Desjardins reaffirmed a “buy” rating on shares of Bombardier in a research note on Friday, May 1st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Bombardier in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bombardier presently has a consensus rating of “Hold” and a consensus target price of $263.00.

Bombardier Trading Down 7.3%

The firm’s 50 day moving average price is $230.79 and its 200-day moving average price is $202.72. The company has a market cap of $23.26 billion and a P/E ratio of 35.67.

Bombardier (OTCMKTS:BDRBF) last issued its earnings results on Thursday, July 30th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $1.32 by $1.18. Bombardier had a net margin of 9.73% and a negative return on equity of 56.13%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Analysts predict that Bombardier Inc. will post 8.25 earnings per share for the current fiscal year.

Institutional Trading of Bombardier

A hedge fund recently bought a new stake in Bombardier stock. Sageworth Trust Co purchased a new position in Bombardier Inc. (OTCMKTS:BDRBF) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,327 shares of the company’s stock, valued at approximately $234,000.

About Bombardier

Bombardier Inc is a Canadian multinational manufacturer specializing in business aircraft. Founded in 1942 by Joseph-Armand Bombardier and headquartered in Montréal, Québec, the company has evolved from its origins in snow vehicles to a focused aviation enterprise. Today, Bombardier designs, manufactures and markets a range of business jets under the Learjet, Challenger and Global series, serving corporate, government and private customers worldwide.

The company’s product portfolio includes light, mid-size and large-cabin jets, complemented by completion, refurbishment and aftermarket support services.