The stock of Stantec Inc. (TSE:STN) gapped down by $0.03 today and has $26.44 target or 8.00% below today’s $28.74 share price. The 8 months technical chart setup indicates high risk for the $3.27B company. The gap down was reported on Nov, 8 by Barchart.com. If the $26.44 price target is reached, the company will be worth $261.60M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 44,693 shares traded hands. Stantec Inc. (TSE:STN) has declined 10.38% since April 1, 2016 and is downtrending. It has underperformed by 12.34% the S&P500.
Stantec Inc. (TSE:STN) Ratings Coverage
Out of 7 analysts covering Stantec Inc. (TSE:STN), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $40 is the highest target while $30 is the lowest. The $36 average target is 25.26% above today’s ($28.74) stock price. Stantec Inc. has been the topic of 19 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Monday, May 2 by National Bank Canada. The firm earned “Buy” rating on Tuesday, September 8 by Dundee Securities. The firm earned “Sector Perform” rating on Wednesday, July 22 by RBC Capital Markets. The rating was downgraded by Desjardins Securities to “Hold” on Friday, June 3.
More notable recent Stantec Inc. (TSE:STN) news were published by: Streetinsider.com which released: “Stantec, Inc. (STN) to Acquire MWH Global for ~$793M” on March 29, 2016, also Streetinsider.com with their article: “Stantec, Inc. (STN) to Acquire Tkalcic Bengert” published on October 19, 2016, Forbes.com published: “RSI Alert: Stantec (STN) Now Oversold” on August 05, 2016. More interesting news about Stantec Inc. (TSE:STN) were released by: Streetinsider.com and their article: “Stantec, Inc. (STN) to Acquire NYC-Based Edwards & Zuck,” published on August 12, 2016 as well as Bizjournals.com‘s news article titled: “Stantec buys Bury in blockbuster Austin deal” with publication date: February 24, 2016.
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 has a market cap of $3.27 billion. The Company’s segment is Consulting Services. It has a 21.8 P/E ratio. The Company’s services include planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics for infrastructure and facilities projects.
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