TSE:ATRL

AtkinsRéalis Group Inc. (ATRL.TO)

89.54
+1.49 (1.69%)
as of Sep 21, 2026, 8:00:00 pm Market Open.
327 watching
0
PARTIAL SELL
There will be a lot more bad news. It's unfortunate, because infrastructure projects are growing and this bad news will preclude them from bidding on them. Definitely wait. If you hold it, take some shares off the table.
WAIT
He stays away because of the political noise. Valuation does not matter. There is still a lot of fallout to come.
DON'T BUY
Major assets include the 407, with the core engineering construction assets for a very low single-digit PE multiple. But SNC has perpetually disappointed through earnings misses or bad headlines. They need to win back investor confidence in their core engineering business. There's always another shoe to drop with SNC. Unpredictable.
DON'T BUY
$20 floor price? They have interest in the highway 407 toll road, which provides some certainty of earnings. He wonders about the growth opportunities. He can't see a clear plan for their plans to grow. If they have a heavy debt load, he would stay away.
HOLD
Good time to get in? Extremely cheap asset-wise. It's in the penalty box for a little bit. Still thinks there's value there, you just need to have a longer-term horizon. Thinks they'll sell part of the 407, which will create $16-18 a share in cash, and bump up the stock price. (Analysts’ price target is $47.25)
COMMENT
ARE-T, WSP-T or SNC-T? He owns SNC-T, which has had its issues alongside the Canadian-Saudi Arabia situation. Fundamentally the company performs well. He owns STN-T. He was expecting this space to see better investment following the Canadian government plans to add to infrastructure. He has grown cold to the space as a whole.
DON'T BUY
Market cap is valuation that people put on companies, based on future profits and cash flow. SNC does mostly "cost plus" contracts, so margin is built in. Exposed to Middle East, not a favourable place. Some issues with CRA, and how they got contracts. He'd be wary. If you think the economies are slowing, there may be better opportunities to buy companies like this.
PAST TOP PICK
(A Top Pick Nov 02/17, Down 19%) Asset value of over $70/share and the 407 highway is $32 of that. If they can resolve their latest corruption problem, it will boost the stock $6-7. Be patient and you will do fine with this.
PAST TOP PICK
(A Top Pick Sep 26/18, Down 16%) This is his third shot at this trade. There was a pretty sweet trading range. But now it's broken down. He's looking for an oversold bounce, and then they'll decide if it can break back above or if they need to ditch it. New investors may want to wait.
PAST TOP PICK
(A Top Pick Dec 28/17, Down 18%) Here is a company with the fundamentals correct but the market doesn't care. First there was the unfortunate tweet about Saudi Arabia. Second, there was the ethics issue from many years ago. The federal government is not letting them off easily on this one. Both things have caused the stock to tank even though it has nothing to do with current management, growth and so on. He is sticking with it. Ultimately this will go away.
PAST TOP PICK
(A Top Pick Aug 16/18, Down 13%) It's a play on global infrastructure (demand and spending), which he thinks any portfolio should have some exposure. How fast will North America ramp up infrastructure? Investors have been frustrated by how slow it's become by, say, Trump. Also, Saudi Arabia events have pressured SNC. He still likes SNC. It's a long-term play.
DON'T BUY
Considering current issues with Saudi Arabia and legal headwinds The analysts have knocked down their earnings forecasts. If this reached its FMV it would hit $64, a huge rebound. Good technical support at $47-49. How serious is this Saudi Arabia issue, and would a Canadian company get punished operating there? He doesn't buy companies with political problems. That said, SNC is really cheap now and you can roll the dice, if you wish.
COMMENT

He's playing infrastructure through WSP instead who are locking their debt to earnings, yet grow by acquiring.

BUY

It trades below it break up intrinsic value. As a Quebec based company it will be too important to fail in political terms.

PAST TOP PICK

(A Top Pick Aug 11/17, Up 2%) Hasn’t done much, though a good company. With gas line approval in BC, should be lots of work. Sideways action, dividend is indifferent. Need some excitement to get investors interested. Not a bad hold.

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