CIBC Upgrades Stantec (TSE:STN) to “Outperform”

Stantec (TSE:STN) (NYSE:STN) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued on Friday, BayStreet.CA reports. The firm currently has a C$40.00 price objective on the stock, up from their prior price objective of C$35.00. CIBC’s target price points to a potential upside of 15.04% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Desjardins boosted their price objective on shares of Stantec from C$38.00 to C$41.00 in a research note on Friday. National Bank Financial reduced their price objective on shares of Stantec from C$31.00 to C$30.50 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada reduced their price objective on shares of Stantec from C$36.00 to C$32.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. BMO Capital Markets reduced their price objective on shares of Stantec from C$39.00 to C$37.00 in a research note on Friday, August 9th. Finally, TD Securities reduced their price objective on shares of Stantec from C$36.00 to C$33.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Stantec has an average rating of “Buy” and an average price target of C$38.39.

TSE:STN traded up C$1.84 during trading hours on Friday, reaching C$34.77. The company’s stock had a trading volume of 840,872 shares, compared to its average volume of 208,982. The company has a market capitalization of $3.18 billion and a P/E ratio of 60.36. Stantec has a 12 month low of C$26.67 and a 12 month high of C$35.39. The company has a debt-to-equity ratio of 90.81, a quick ratio of 1.78 and a current ratio of 1.85. The stock has a 50 day moving average price of C$28.77 and a two-hundred day moving average price of C$30.55.

Stantec (TSE:STN) (NYSE:STN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.50 EPS for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.09). The company had revenue of C$953.60 million for the quarter, compared to the consensus estimate of C$945.00 million. As a group, analysts predict that Stantec will post 2.2899999 EPS for the current fiscal year.

In other news, Director Jeffrey Philip Stone sold 1,360 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 641 shares of the company’s stock, valued at 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.

Further Reading: Dividend Aristocrat Index

Analyst Recommendations for Stantec (TSE:STN)

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