Desjardins Issues Positive Forecast for Stantec (TSE:STN) Stock Price

Key Points

• Desjardins has increased its price target for Stantec (TSE:STN) from C$153.00 to C$158.00, maintaining a "buy" rating and indicating a potential upside of 7.86%.
• Other analysts, including TD Securities and CIBC, have also raised their price targets for Stantec, with estimates ranging from C$145.00 to C$168.00.
• Insider activity includes recent purchases by directors, indicating confidence in the company's stock; insiders own 0.27% of the company's shares.

Stantec (TSE:STN - Get Free Report) NYSE: STN had its price target lifted by stock analysts at Desjardins from C$153.00 to C$158.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective points to a potential upside of 7.86% from the company's current price.

A number of other equities research analysts have also weighed in on STN. TD Securities boosted their target price on Stantec from C$145.00 to C$165.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Scotiabank boosted their target price on Stantec from C$144.00 to C$146.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. CIBC boosted their target price on Stantec from C$156.00 to C$168.00 in a research note on Friday, July 18th. Canaccord Genuity Group boosted their target price on Stantec from C$150.00 to C$165.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their target price on Stantec from C$138.00 to C$150.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$155.50.

Stantec Price Performance

Shares of STN traded down C$0.33 during midday trading on Friday, reaching C$146.48. The stock had a trading volume of 196,519 shares, compared to its average volume of 273,693. The company's 50-day moving average is C$149.14 and its 200 day moving average is C$131.52. Stantec has a 12-month low of C$103.48 and a 12-month high of C$155.02. The company has a current ratio of 1.42, a quick ratio of 1.46 and a debt-to-equity ratio of 85.29. The company has a market capitalization of C$16.70 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 1.46 and a beta of 0.82.

Insider Buying and Selling at Stantec

In other news, Director Susan Reisbord acquired 2,785 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was bought at an average price of C$147.74 per share, with a total value of C$411,458.13. Also, Director Clayton Bock acquired 1,250 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of C$139.51 per share, with a total value of C$174,392.88. Insiders own 0.27% of the company's stock.

About Stantec

Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. The company is geographically diversified in three regional operating units namely Canada, the United States and Global, offering similar services across all regions. The company offers services in various sectors across the project life cycle through five business operating units infrastructure, water, buildings, environmental services, and energy and resources.

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