Stantec (NYSE:STN) Upgraded to Buy at StockNews.com

Stantec (NYSE:STN) (TSE:STN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research analysts have also recently issued reports on STN. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Scotiabank initiated coverage on shares of Stantec in a report on Friday, October 25th. They issued a “sector outperform” rating on the stock. Raymond James cut shares of Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Stantec Price Performance

NYSE STN opened at $82.31 on Friday. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 37.41 and a beta of 1.02. Stantec has a 1-year low of $67.54 and a 1-year high of $88.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39. The business’s fifty day moving average price is $81.58 and its 200-day moving average price is $82.46.

Institutional Investors Weigh In On Stantec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Stantec by 9.7% in the third quarter. Geode Capital Management LLC now owns 523,581 shares of the business services provider’s stock worth $42,781,000 after purchasing an additional 46,267 shares during the period. Barclays PLC lifted its stake in shares of Stantec by 73.2% during the 3rd quarter. Barclays PLC now owns 31,001 shares of the business services provider’s stock valued at $2,493,000 after buying an additional 13,107 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Stantec in the 3rd quarter worth $877,000. XTX Topco Ltd purchased a new stake in Stantec in the 3rd quarter worth $335,000. Finally, National Bank of Canada FI raised its holdings in Stantec by 54.6% during the third quarter. National Bank of Canada FI now owns 1,453,730 shares of the business services provider’s stock valued at $116,897,000 after acquiring an additional 513,269 shares during the period. Institutional investors own 63.86% of the company’s stock.

About Stantec

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.