Bombardier (OTCMKTS:BDRBF) Shares Gap Up – Here’s Why

Bombardier Inc. (OTCMKTS:BDRBF) shares gapped up before the market opened on Thursday . The stock had previously closed at $193.98, but opened at $205.35. Bombardier shares last traded at $202.4325, with a volume of 297 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on BDRBF. Scotiabank upgraded Bombardier from a “sector perform” rating to an “outperform” rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Bombardier in a research note on Friday, May 1st. Royal Bank Of Canada restated an “outperform” rating on shares of Bombardier in a research note on Friday, May 1st. National Bank Financial cut Bombardier from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 16th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Bombardier in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $263.00.

Bombardier Stock Up 1.4%

The company has a market capitalization of $20.59 billion and a P/E ratio of 31.47. The business has a 50 day simple moving average of $186.58 and a 200-day simple moving average of $177.68.

Bombardier (OTCMKTS:BDRBF) last posted its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.91. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Bombardier had a negative return on equity of 56.13% and a net margin of 9.73%. Equities analysts forecast that Bombardier Inc. will post 8.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Bombardier Company Profile

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.