Stantec (TSE:STN) Price Target Raised to C$133.00

Key Points

• ATB Cormark raised Stantec’s price target to C$133 from C$130 and maintained an “outperform” rating, implying 29.38% potential upside from the previous close.
• Analyst sentiment remains positive, with all 12 analysts rating the stock a Buy and an average price target of C$143, although several firms recently reduced their targets.
• Stantec reported quarterly revenue of C$2.23 billion and earnings of C$1.61 per share. The stock closed at C$102.80, while two directors recently purchased company shares.

Stantec (TSE:STN - Get Free Report) NYSE: STN had its price target increased by ATB Cormark Capital Markets from C$130.00 to C$133.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target would indicate a potential upside of 29.38% from the stock's previous close.

Several other research firms have also recently weighed in on STN. TD decreased their target price on shares of Stantec from C$158.00 to C$132.00 and set a "buy" rating for the company in a research note on Friday, May 15th. BMO Capital Markets cut their price target on shares of Stantec from C$175.00 to C$154.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Desjardins decreased their price objective on shares of Stantec from C$178.00 to C$171.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Scotia decreased their price objective on shares of Stantec from C$133.00 to C$129.00 and set a "sector outperform" rating for the company in a research report on Friday. Finally, National Bank Financial dropped their target price on shares of Stantec from C$143.00 to C$120.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$143.00.

Stantec Stock Down 0.0%

TSE STN traded down C$0.02 during trading hours on Friday, hitting C$102.80. 347,724 shares of the company traded hands, compared to its average volume of 455,213. The company has a debt-to-equity ratio of 76.67, a quick ratio of 1.46 and a current ratio of 1.35. The business's 50-day moving average is C$99.11 and its 200-day moving average is C$113.34. The stock has a market capitalization of C$11.73 billion, a price-to-earnings ratio of 23.96, 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.

Stantec (TSE:STN - Get Free Report) NYSE: STN last posted its quarterly earnings results on Wednesday, August 12th. The company reported C$1.61 earnings per share for the quarter. Stantec had a return on equity of 15.21% and a net margin of 6.19%.The firm had revenue of C$2.23 billion for the quarter.

Insiders Place Their Bets

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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