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Stantec (NYSE:STN) Cut to "Sell" at Zacks Investment Research

Last updated on Saturday, August 1, 2020 | 2020 MarketBeat

Stantec (NYSE:STN) (TSE:STN) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Zacks.com reports.

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 sciences, project management, and project economics for infrastructure and facilities projects. Its services include, or relate to, the development of conceptual plans, zoning approval of design infrastructure, transportation planning, traffic engineering, landscape architecture, urban planning, design construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services principally under fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. "

Several other brokerages also recently weighed in on STN. Royal Bank of Canada assumed coverage on shares of Stantec in a research report on Monday, July 13th. They set a "sector perform" rating and a $46.00 price target for the company. BMO Capital Markets cut Stantec from an "outperform" rating to a "market perform" rating and set a $41.00 price target for the company. in a research note on Wednesday, April 15th. TD Securities upped their price target on Stantec from $46.00 to $51.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Scotiabank upped their target price on shares of Stantec from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Stantec presently has an average rating of "Hold" and a consensus target price of $41.69.

Shares of NYSE:STN opened at $32.19 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.76 and a quick ratio of 1.76. Stantec has a 1 year low of $20.22 and a 1 year high of $32.85. The company has a market cap of $3.58 billion, a PE ratio of 25.35 and a beta of 1.13. The stock's 50-day moving average is $30.86 and its 200 day moving average is $29.44.

Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $712.22 million during the quarter, compared to the consensus estimate of $657.79 million. Stantec had a return on equity of 12.01% and a net margin of 3.86%. Analysts expect that Stantec will post 1.37 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the business. C M Bidwell & Associates Ltd. purchased a new position in shares of Stantec in the 1st quarter worth approximately $32,000. Fort L.P. bought a new position in Stantec during the first quarter valued at $54,000. 1832 Asset Management L.P. raised its stake in shares of Stantec by 56.3% in the first quarter. 1832 Asset Management L.P. now owns 2,345 shares of the business services provider's stock valued at $60,000 after acquiring an additional 845 shares during the period. Tortoise Capital Advisors L.L.C. bought a new stake in shares of Stantec in the 1st quarter worth about $135,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Stantec during the 1st quarter worth about $205,000. 62.09% of the stock is owned by institutional investors and hedge funds.

About Stantec

Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through three segments: Consulting Services - Canada, Consulting Services - United States, and Consulting Services - Global.

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