Stantec (TSE:STN) Price Target Cut to C$129.00 by Analysts at Scotia

Stantec (TSE:STN) (NYSE:STN) had its price target cut by Scotia from C$133.00 to C$129.00 in a report released on Friday,BayStreet.CA reports. They currently have a sector outperform rating on the stock.

Several other research firms have also commented on STN. TD reduced their price target on Stantec from C$158.00 to C$132.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Stifel Nicolaus dropped their price objective on shares of Stantec from C$160.00 to C$140.00 and set a “buy” rating for the company in a report on Thursday, April 30th. ATB Cormark Capital Markets upgraded shares of Stantec from a “hold” rating to a “moderate buy” rating and cut their price objective for the stock from C$157.00 to C$130.00 in a research report on Friday, May 15th. Desjardins reduced their target price on shares of Stantec from C$178.00 to C$171.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Raymond James Financial decreased their target price on shares of Stantec from C$180.00 to C$165.00 in a report on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$143.00.

Stantec Stock Performance

TSE:STN opened at C$102.22 on Friday. The company has a market cap of C$11.66 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.46 and a beta of 0.70. Stantec has a twelve month low of C$93.28 and a twelve month high of C$160.05. The company’s 50-day moving average price is C$99.09 and its 200-day moving average price is C$113.27. The company has a current ratio of 1.35, a quick ratio of 1.46 and a debt-to-equity ratio of 76.67.

Stantec (TSE:STN) (NYSE:STN) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$1.61 EPS for the quarter. The firm had revenue of C$2.23 billion for the quarter. Stantec had a return on equity of 15.21% and a net margin of 6.19%.

Insider Activity at Stantec

In other Stantec news, Director Clayton Bock purchased 1,485 shares of Stantec stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average price of C$94.85 per share, for a total transaction of C$140,852.25. Following the transaction, the director directly owned 4,895 shares in the company, valued at C$464,290.75. This trade represents a 43.55% increase in their ownership of the stock. Also, Director Douglas Keith Ammerman acquired 681 shares of Stantec stock in a transaction on Thursday, July 2nd. The shares were bought at an average cost of C$97.84 per share, with a total value of C$66,629.04. Following the completion of the purchase, the director owned 42,512 shares in the company, valued at C$4,159,374.08. The trade was a 1.63% increase in their ownership of the stock. 0.27% of the stock is owned by insiders.

Key Headlines Impacting Stantec

Here are the key news stories impacting Stantec this week:

• Positive Sentiment: Brokerages assigned Stantec a consensus “Buy” rating, indicating generally positive expectations for the engineering and consulting company. Stantec Inc. Given Consensus Recommendation of Buy by Brokerages
• Positive Sentiment: Desjardins initiated coverage with a “Buy” rating and a C$169 price target, implying approximately 64.7% potential upside. BayStreet analyst ratings
• Positive Sentiment: ATB Cormark raised its price target to C$133 from C$130 and reiterated an “Outperform” rating, implying roughly 29.7% upside. BayStreet analyst ratings
• Positive Sentiment: Royal Bank of Canada kept an “Outperform” rating with a C$146 target, while Scotia maintained “Sector Outperform” with a C$129 target. Both targets remain materially above the reference price. BayStreet analyst ratings

Stantec Company Profile

Stantec empowers clients, people, and communities to rise to the world’s greatest challenges at a time when the world faces more unprecedented concerns than ever before. We are a global leader in sustainable engineering, architecture, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more. Today’s communities transcend geographic borders.