Scotiabank Increases Stantec (NYSE:STN) Price Target to C$72.00

Stantec (NYSE:STN) (TSE:STN) had its price target boosted by Scotiabank from C$66.00 to C$72.00 in a research report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the business services provider’s stock.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Stantec from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, October 7th. Raymond James increased their target price on Stantec from C$58.00 to C$63.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. TD Securities increased their target price on Stantec from C$64.00 to C$69.00 and gave the company a “buy” rating in a research note on Friday, August 6th. National Bankshares downgraded Stantec to a “hold” rating and set a $60.00 target price for the company. in a research note on Friday, August 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a C$70.00 target price on shares of Stantec in a research note on Friday, October 1st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $62.12.

Shares of STN traded up $0.09 during trading hours on Thursday, hitting $49.73. 1,794 shares of the company were exchanged, compared to its average volume of 73,443. The company has a market cap of $5.52 billion, a PE ratio of 37.11 and a beta of 0.89. The firm’s 50 day moving average is $48.46 and its 200-day moving average is $46.29. Stantec has a 52 week low of $28.10 and a 52 week high of $52.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.32 and a current ratio of 1.32.

Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings results on Wednesday, August 4th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $739.43 million during the quarter, compared to the consensus estimate of $758.16 million. Stantec had a return on equity of 13.39% and a net margin of 4.28%. As a group, equities analysts forecast that Stantec will post 1.88 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of STN. Envestnet Asset Management Inc. boosted its position in shares of Stantec by 32.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,736 shares of the business services provider’s stock worth $374,000 after purchasing an additional 2,117 shares during the last quarter. Alliancebernstein L.P. bought a new position in Stantec during the first quarter worth about $257,000. BlackRock Inc. bought a new position in Stantec during the first quarter worth about $1,341,000. Russell Investments Group Ltd. lifted its holdings in Stantec by 82.3% during the first quarter. Russell Investments Group Ltd. now owns 85,726 shares of the business services provider’s stock worth $3,668,000 after acquiring an additional 38,706 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Stantec by 25.9% during the first quarter. JPMorgan Chase & Co. now owns 397,065 shares of the business services provider’s stock worth $16,987,000 after acquiring an additional 81,767 shares in the last quarter. Institutional investors and hedge funds own 59.89% of the company’s stock.

About Stantec

Stantec, Inc engages the provision of in general design and architectural solutions. It operates through the following segments: Buildings; Energy and Resources; Environment Services; Infrastructure; and Water. The Buildings segment offers pre-design, design, and construction administration services in planning, architecture, buildings engineering, and interior design services for vertical infrastructure.

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