Canadian Imperial Bank of Commerce Issues Pessimistic Forecast for Stantec (TSE:STN) Stock Price

Stantec (TSE:STN) (NYSE:STN) had its price objective dropped by equities researchers at Canadian Imperial Bank of Commerce from C$160.00 to C$137.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 39.58% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of Stantec from C$160.00 to C$140.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Royal Bank Of Canada cut their price target on shares of Stantec from C$175.00 to C$155.00 in a research note on Friday, May 15th. National Bank Financial dropped their price objective on shares of Stantec from C$163.00 to C$143.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. ATB Cormark Capital Markets upgraded Stantec from a “hold” rating to a “moderate buy” rating and lowered their target price for the stock from C$157.00 to C$130.00 in a report on Friday, May 15th. Finally, Raymond James Financial cut their target price on Stantec from C$180.00 to C$165.00 in a research note on Wednesday, April 29th. Thirteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, Stantec presently has an average rating of “Buy” and a consensus target price of C$148.77.

Stantec Price Performance

Shares of Stantec stock traded up C$0.61 during trading on Wednesday, reaching C$98.15. The company’s stock had a trading volume of 155,069 shares, compared to its average volume of 442,645. Stantec has a one year low of C$94.79 and a one year high of C$160.05. The stock has a market capitalization of C$11.20 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 1.46 and a beta of 0.71. 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 stock has a 50-day moving average price of C$105.56 and a two-hundred day moving average price of C$119.99.

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

Insider Activity at Stantec

In related news, Director Douglas Keith Ammerman bought 681 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were purchased at an average price of C$97.84 per share, with a total value of C$66,629.04. Following the completion of the purchase, the director owned 42,512 shares in the company, valued at C$4,159,374.08. This represents a 1.63% increase in their position. Also, Director Clayton Bock purchased 1,485 shares of the stock in a transaction dated Friday, June 26th. The shares were bought 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 directly owned 4,895 shares of the company’s stock, valued at approximately C$464,290.75. This represents a 43.55% increase in their position. Company insiders own 0.27% of the company’s stock.

Stantec Company Profile

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.