CIBC upgraded shares of Stantec (TSE:STN) (NYSE:STN) from a neutral rating to an outperform rating in a research report report published on Friday, BayStreet.CA reports. CIBC currently has C$40.00 price objective on the stock, up from their prior price objective of C$35.00.
Several other research analysts have also issued reports on STN. Desjardins raised their target price on Stantec from C$38.00 to C$41.00 in a research report on Friday. BMO Capital Markets lowered their target price on Stantec from C$39.00 to C$37.00 in a research report on Friday, August 9th. Royal Bank of Canada lowered their target price on Stantec from C$36.00 to C$32.00 and set a sector perform rating for the company in a research report on Friday, August 9th. Canaccord Genuity lowered Stantec from a buy rating to a hold rating and lowered their target price for the stock from C$38.00 to C$31.00 in a research report on Friday, August 9th. Finally, TD Securities decreased their price target on Stantec from C$36.00 to C$33.00 and set a hold rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Stantec has a consensus rating of Buy and an average price target of C$38.39.
TSE:STN traded up C$0.23 during trading hours on Friday, hitting C$34.69. 651,235 shares of the company were exchanged, compared to its average volume of 212,258. The stock has a market capitalization of $3.18 billion and a price-to-earnings ratio of 60.23. The company has a current ratio of 1.85, a quick ratio of 1.78 and a debt-to-equity ratio of 90.81. Stantec has a one year low of C$26.67 and a one year high of C$35.39. The company has a fifty day simple moving average of C$28.87 and a 200 day simple moving average of C$30.56.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.145 per share. The ex-dividend date is Friday, December 27th. This represents a $0.58 dividend on an annualized basis and a yield of 1.67%. Stantec’s payout ratio is currently 99.39%.
In other Stantec news, Director Jeffrey Philip Stone sold 1,360 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of C$28.38, for a total transaction of C$38,592.85. Following the completion of the sale, the director now directly owns 641 shares in the company, valued at approximately C$18,189.72.
Stantec Company Profile
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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