Stantec Inc. (NYSE:STN) Lowered to “Hold” at Zacks Investment Research

Stantec Inc. (NYSE:STN) (TSE:STN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, October 25th.

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 analysts also recently weighed in on the company. Royal Bank of Canada initiated coverage on Stantec in a research note on Monday, October 23rd. They set a “sector perform” rating and a $40.00 target price for the company. BidaskClub raised Stantec from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, TheStreet upgraded Stantec from a “c” rating to a “b-” rating in a research report on Monday, August 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Stantec has an average rating of “Hold” and a consensus price target of $35.00.

Shares of Stantec (NYSE:STN) opened at $28.60 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. Stantec has a twelve month low of $22.25 and a twelve month high of $28.90. The firm has a market capitalization of $3,310.00, a P/E ratio of 20.47 and a beta of 1.60.

Stantec (NYSE:STN) (TSE:STN) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $891.49 million for the quarter, compared to analyst estimates of $902.78 million. Stantec had a return on equity of 10.79% and a net margin of 2.24%. Stantec’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. sell-side analysts predict that Stantec will post 1.56 earnings per share for the current fiscal year.

Stantec announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase 2,280,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Stantec by 163.2% during the first quarter. Tower Research Capital LLC TRC now owns 4,038 shares of the business services provider’s stock worth $140,000 after buying an additional 2,504 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Stantec in the first quarter valued at $248,000. Trexquant Investment LP acquired a new stake in Stantec in the third quarter valued at $272,000. Dynamic Technology Lab Private Ltd bought a new stake in Stantec during the third quarter valued at $313,000. Finally, Bank of New York Mellon Corp boosted its position in Stantec by 17.4% during the first quarter. Bank of New York Mellon Corp now owns 15,488 shares of the business services provider’s stock valued at $401,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 56.74% of the company’s stock.

Stantec Company Profile

Stantec Inc is a provider of professional services in the area of infrastructure and facilities for clients in the public and private sectors. The Company’s operates through four segments Consulting Services-Canada, Consulting Services-United States, Consulting Services-Global and Construction Services.

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