Scotiabank Boosts WSP Global (TSE:WSP) Price Target to C$308.00

Key Points

• Scotiabank has raised its price target for WSP Global shares from C$306.00 to C$308.00, indicating a potential upside of 11.41% from the previous close.
• Other brokerages, including CIBC and Canaccord Genuity Group, have also increased their price objectives for WSP, with Canaccord setting a target of C$335.00.
• In related news, directors of WSP Global sold significant shares recently, with the sales representing a combined decrease of over 39% in their ownership stakes.

WSP Global (TSE:WSP - Get Free Report) had its price objective increased by Scotiabank from C$306.00 to C$308.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank's target price suggests a potential upside of 11.41% from the stock's previous close.

A number of other brokerages have also commented on WSP. CIBC increased their price objective on shares of WSP Global from C$305.00 to C$317.00 in a report on Friday, July 18th. Canaccord Genuity Group upped their target price on shares of WSP Global from C$305.00 to C$335.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. National Bankshares upped their target price on shares of WSP Global from C$292.00 to C$297.00 in a research report on Friday, August 8th. Royal Bank Of Canada boosted their price objective on shares of WSP Global from C$289.00 to C$293.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, ATB Capital boosted their price objective on shares of WSP Global from C$270.00 to C$305.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$312.00.

WSP Global Price Performance

WSP traded down C$1.53 during trading on Friday, hitting C$276.46. The company's stock had a trading volume of 211,167 shares, compared to its average volume of 241,948. The firm's 50 day moving average price is C$280.28 and its two-hundred day moving average price is C$271.51. The company has a quick ratio of 1.04, a current ratio of 1.26 and a debt-to-equity ratio of 80.45. WSP Global has a 12 month low of C$217.42 and a 12 month high of C$291.46. The stock has a market capitalization of C$36.09 billion, a price-to-earnings ratio of 45.10, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57.

Insider Buying and Selling

In related news, Director Alexandre L'heureux sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$280.25, for a total transaction of C$7,006,250.00. Following the completion of the sale, the director directly owned 37,809 shares of the company's stock, valued at C$10,595,972.25. The trade was a 39.80% decrease in their ownership of the stock. Also, insider Alain Michaud sold 6,068 shares of WSP Global stock in a transaction on Thursday, August 14th. The stock was sold at an average price of C$280.43, for a total transaction of C$1,701,649.24. Following the sale, the insider directly owned 6,493 shares of the company's stock, valued at C$1,820,831.99. This represents a 48.31% decrease in their position. Insiders sold a total of 78,781 shares of company stock valued at $22,092,534 over the last ninety days. Insiders own 0.06% of the company's stock.

WSP Global Company Profile

WSP Global Inc provides engineering and design services to clients in the Transportation & Infrastructure, Property and Buildings, Environment, Power and Energy, Resources, and Industry sectors. It also offers strategic advisory services. The firm operates through four reportable segments namely, Canada, Americas ( US and Latin America), EMEIA (Europe, Middle East, India and Africa), and APAC (Asia Pacific, comprising Australia, New Zealand and Asia).

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