Royal Bank of Canada Forecasts Strong Price Appreciation for Stantec (TSE:STN) Stock

Stantec (TSE:STN) (NYSE:STN) had its target price increased by equities researchers at Royal Bank of Canada from C$128.00 to C$138.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 9.00% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. CIBC increased their price target on Stantec from C$121.50 to C$134.00 in a research note on Friday, December 13th. TD Securities upped their price target on Stantec from C$139.00 to C$145.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James boosted their target price on shares of Stantec from C$120.00 to C$130.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Canaccord Genuity Group increased their target price on Stantec from C$125.00 to C$135.00 in a research note on Monday, November 11th. Finally, BMO Capital Markets lifted their price objective on shares of Stantec from C$135.00 to C$138.00 in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$140.33.

Stantec Price Performance

Shares of STN stock traded up C$6.67 during midday trading on Wednesday, reaching C$126.60. 504,362 shares of the company traded hands, compared to its average volume of 230,142. The company has a debt-to-equity ratio of 85.29, a current ratio of 1.42 and a quick ratio of 1.46. Stantec has a 1-year low of C$103.48 and a 1-year high of C$126.60. The firm has a market cap of C$14.43 billion, a PE ratio of 42.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.82. The firm’s 50 day simple moving average is C$112.05 and its two-hundred day simple moving average is C$113.28.

Insider Activity

In other news, Director Vito Culmone bought 3,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of C$112.03 per share, for a total transaction of C$336,099.00. Company insiders own 0.27% of the company’s stock.

About Stantec

Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. The company is geographically diversified in three regional operating units namely Canada, the United States and Global, offering similar services across all regions. The company offers services in various sectors across the project life cycle through five business operating units infrastructure, water, buildings, environmental services, and energy and resources.