Stantec (NYSE:STN) raised to buy at Zacks Investment Research


Stantec (NYSE: STN – Get a review) (TSE: STN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Wednesday to investors, Zacks.com reports. The brokerage currently has a price target of $53.00 on shares of the business service provider. Zacks Investment Research’s price target indicates a potential upside of 14.40% from the current stock price.

According to Zacks, “Stantec Inc. provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying and geomatics. It also provides professional consulting services in environmental science, project management and project economics for infrastructure and facilities projects. Its services include or relate to the development of concept plans, approval of design infrastructure zoning, transportation planning, traffic engineering, landscape architecture, planning, construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services, primarily through fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. “

Several other research companies have also recently weighed in on STN. StockNews.com took over coverage of Stantec stocks in a Thursday, March 31 research report. They set a “buy” rating for the company. Raymond James upgraded Stantec’s shares from an “outperform” rating to a “strong buy” rating in a Monday, Jan. 24 research note. National Bank Financial upgraded Stantec from an “sector performance” rating to an “outperform” rating in a report released Thursday, February 24. BMO Capital Markets cut its price target on Stantec from C$81.00 to C$78.00 in a Friday, February 25 report. Finally, Maxim Group raised its price target on Stantec from CA$72.00 to CA$80.00 and gave the stock an “sector performance” rating in a Wednesday, January 5, research note. Five equity research analysts gave the stock a hold rating, ten gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, Stantec currently has a consensus buy rating and an average target price of $73.92.

Stantec shares opened at $46.33 on Wednesday. Stantec has a 12 month minimum of $42.70 and a 12 month maximum of $58.50. The company’s 50-day moving average is $49.90. The company has a debt ratio of 0.60, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $5.16 billion, a price-earnings ratio of 32.40 and a beta of 0.93.

Stantec (NYSE:STN – Get Rating) (TSE:STN) last released its quarterly results on Wednesday, February 23. The business services provider reported earnings per share (EPS) of $0.45 for the quarter, meeting analyst consensus estimates of $0.45. Stantec had a net margin of 4.39% and a return on equity of 13.60%. The company posted revenue of $726.86 million in the quarter, compared to analyst estimates of $732.46 million. Equity research analysts expect Stantec to post EPS of 2.35 for the current fiscal year.

Institutional investors have recently changed their stake in the company. Mackenzie Financial Corp increased its stake in Stantec by 11.4% in the fourth quarter. Mackenzie Financial Corp now owns 10,549,000 shares of the business services provider valued at $592,709,000 after purchasing an additional 1,079,712 shares during the period. Bank of Montreal Can increased its stake in Stantec shares by 53.9% in the fourth quarter. Bank of Montreal Can now owns 2,894,454 shares of the business services provider valued at $163,777,000 after purchasing an additional 1,013,877 shares during the period. Allianz Asset Management GmbH increased its stake in Stantec shares by 25.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,830,821 shares of the business services provider valued at $102,970,000 after purchasing an additional 375,821 shares during the period. Alberta Investment Management Corp increased its position in Stantec by 88.7% in the fourth quarter. Alberta Investment Management Corp now owns 1,644,544 shares of the business services provider valued at $92,529,000 after buying an additional 772,964 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Stantec by 22.3% in the third quarter. Invesco Ltd. now owns 1,512,275 shares of the business services provider valued at $70,985,000 after purchasing an additional 276,068 shares during the period. Institutional investors and hedge funds hold 60.32% of the company’s shares.

About Stantec (Get an evaluation)

Stantec Inc provides engineering, architectural and environmental consulting services in the fields of infrastructure and facilities in Canada, the United States and abroad. The company provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental science, project management and project economics.

Further reading

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Analyst recommendations for Stantec (NYSE: STN)



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