Stantec (NYSE:STN) Lowered to Hold at Zacks Investment Research

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Stantec (NYSE:STN) (TSE:STN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Stantec Inc. provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying and geomatics. It also provides professional consulting services in environmental sciences, project management, and project economics for infrastructure and facilities projects. Its services include, or relate to, the development of conceptual plans, zoning approval of design infrastructure, transportation planning, traffic engineering, landscape architecture, urban planning, design construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services principally under fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. “

Several other research firms have also recently weighed in on STN. CIBC reiterated a “hold” rating on shares of Stantec in a report on Thursday, June 13th. Raymond James started coverage on Tradeweb Markets in a research note on Monday, June 17th. They issued a “market perform” rating and a $41.82 target price for the company. Finally, BMO Capital Markets restated a “buy” rating on shares of Stantec in a research note on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Stantec presently has a consensus rating of “Hold” and a consensus target price of $32.67.

NYSE STN opened at $24.39 on Tuesday. Stantec has a fifty-two week low of $21.44 and a fifty-two week high of $26.74. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $24.05. The stock has a market cap of $2.73 billion, a PE ratio of 18.78 and a beta of 1.14.

Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Stantec had a return on equity of 10.03% and a net margin of 1.12%. The business had revenue of $680.04 million during the quarter, compared to analysts’ expectations of $675.48 million. Equities analysts forecast that Stantec will post 1.52 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in STN. Dimensional Fund Advisors LP lifted its stake in shares of Stantec by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 143,711 shares of the business services provider’s stock valued at $3,142,000 after purchasing an additional 5,008 shares during the period. Geode Capital Management LLC purchased a new position in shares of Stantec in the 4th quarter valued at approximately $226,000. Barclays PLC lifted its stake in shares of Stantec by 980.4% in the 4th quarter. Barclays PLC now owns 7,563 shares of the business services provider’s stock valued at $165,000 after purchasing an additional 6,863 shares during the period. Legal & General Group Plc lifted its stake in shares of Stantec by 89.7% in the 4th quarter. Legal & General Group Plc now owns 55,142 shares of the business services provider’s stock valued at $1,207,000 after purchasing an additional 26,074 shares during the period. Finally, Norges Bank purchased a new position in shares of Stantec in the 4th quarter valued at approximately $33,961,000. Institutional investors own 66.00% of the company’s stock.

About Stantec

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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