Canaccord Genuity Group Upgrades Stantec (NYSE:STN) to Buy

Stantec (NYSE:STN) (TSE:STN) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Monday,Briefing.com Automated Import reports.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of Stantec from a “buy” rating to a “hold” rating in a research report on Friday. Scotiabank started coverage on Stantec in a report on Friday, October 25th. They set a “sector outperform” rating for the company. Finally, Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Stantec currently has a consensus rating of “Hold”.

Stantec Stock Down 4.7 %

Shares of NYSE STN opened at $80.64 on Monday. The firm has a market cap of $9.20 billion, a P/E ratio of 36.65 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.39. Stantec has a 1 year low of $62.91 and a 1 year high of $88.42. The firm’s 50 day moving average price is $81.33 and its 200 day moving average price is $82.40.

Institutional Investors Weigh In On Stantec

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 129 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after buying an additional 196 shares during the period. Legacy Capital Group California Inc. lifted its position in Stantec by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock worth $276,000 after acquiring an additional 211 shares in the last quarter. Pembroke Management LTD boosted its holdings in Stantec by 4.7% in the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock worth $631,000 after acquiring an additional 342 shares during the period. Finally, US Bancorp DE grew its position in Stantec by 30.3% in the third quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 493 shares in the last quarter. Institutional investors and hedge funds 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.