Stantec (STN) Upgraded at Scotiabank

Stantec (NYSE:STN) (TSE:STN) was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday, The Fly reports.

Other research analysts also recently issued research reports about the company. TheStreet upgraded Stantec from a “c+” rating to a “b-” rating in a research note on Monday, July 2nd. CIBC downgraded Stantec from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, July 5th. ValuEngine downgraded Stantec from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research downgraded Stantec from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Stantec currently has an average rating of “Hold” and an average price target of $34.50.

NYSE STN traded up $0.16 on Friday, reaching $24.46. The stock had a trading volume of 201 shares, compared to its average volume of 15,126. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. Stantec has a 1 year low of $24.05 and a 1 year high of $29.25. The company has a market capitalization of $2.80 billion, a P/E ratio of 17.99 and a beta of 1.57.

Stantec (NYSE:STN) (TSE:STN) last issued its earnings results on Wednesday, August 8th. The business services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.10). Stantec had a net margin of 2.58% and a return on equity of 10.09%. The firm had revenue of $703.54 million during the quarter, compared to analysts’ expectations of $705.24 million. On average, equities analysts anticipate that Stantec will post 1.35 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Stantec by 16.6% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,141,012 shares of the business services provider’s stock worth $183,540,000 after acquiring an additional 1,014,400 shares in the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in shares of Stantec by 8.1% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 1,969,798 shares of the business services provider’s stock worth $50,710,000 after acquiring an additional 147,725 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of Stantec by 4.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,340,580 shares of the business services provider’s stock worth $34,421,000 after acquiring an additional 51,728 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Stantec by 54.7% during the 2nd quarter. TD Asset Management Inc. now owns 1,034,040 shares of the business services provider’s stock worth $26,577,000 after acquiring an additional 365,729 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Stantec by 8.3% during the 2nd quarter. Bank of Montreal Can now owns 461,806 shares of the business services provider’s stock worth $11,845,000 after acquiring an additional 35,461 shares in the last quarter. Institutional investors own 58.33% 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 four segments: Consulting Services ? Canada, Consulting Services ? United States, Consulting Services ? Global, and Construction Services.

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