Scotiabank Has Lowered Expectations for Stantec (TSE:STN) Stock Price

Key Points

• Scotiabank lowered its price target on Stantec from C$138 to C$133, while keeping a sector outperform rating. The new target still implies roughly 35% upside from the prior close.
• Several other major brokers also cut their price targets on Stantec recently, though the stock still carries a consensus Buy rating from analysts and an average target of C$147.77.
• Stantec shares traded up 0.8% to C$98.22, and recent insider buying included purchases by directors Douglas Keith Ammerman and Clayton Bock.

Stantec (TSE:STN - Get Free Report) NYSE: STN had its price target cut by research analysts at Scotiabank from C$138.00 to C$133.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price target suggests a potential upside of 35.41% from the company's previous close.

A number of other research firms have also recently issued reports on STN. Royal Bank Of Canada decreased their price objective on shares of Stantec from C$175.00 to C$155.00 in a research report on Friday, May 15th. BMO Capital Markets cut their target price on Stantec from C$175.00 to C$154.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce reduced their price target on Stantec from C$160.00 to C$137.00 and set an "outperformer" rating on the stock in a report on Wednesday. TD lowered their price target on Stantec from C$158.00 to C$132.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Finally, Stifel Nicolaus dropped their price objective on Stantec from C$160.00 to C$140.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Thirteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$147.77.

Stantec Trading Up 0.8%

Shares of TSE:STN traded up C$0.75 during trading on Friday, reaching C$98.22. 213,764 shares of the company traded hands, compared to its average volume of 445,278. The firm has a market capitalization of C$11.20 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.46 and a beta of 0.71. Stantec has a 52-week low of C$94.79 and a 52-week high of C$160.05. The company has a current ratio of 1.35, a quick ratio of 1.46 and a debt-to-equity ratio of 76.67. The business's fifty day moving average is C$104.55 and its 200-day moving average is C$119.55.

Stantec (TSE:STN - Get Free Report) NYSE: STN last issued its earnings results on Wednesday, May 13th. The company reported C$1.33 EPS for the quarter. Stantec had a net margin of 6.19% and a return on equity of 15.21%. The company had revenue of C$2.07 billion for the quarter.

Insider Buying and Selling

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

About Stantec

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.

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