WSP Global (TSE:WSP) Price Target Raised to C$349.00 at CIBC

Key Points

• CIBC has raised the price target for WSP Global from C$318.00 to C$349.00, indicating a potential upside of 24.42%.
• Multiple analysts have issued reports with favorable ratings, with an average target price of C$314.67, suggesting strong market confidence in the stock.
• Insider trading activity includes significant share sales by directors, resulting in noticeable decreases in their ownership percentages.

WSP Global (TSE:WSP - Get Free Report) had its price target upped by analysts at CIBC from C$318.00 to C$349.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's target price would suggest a potential upside of 24.42% from the company's previous close.

Several other research firms have also recently issued reports on WSP. Stifel Nicolaus upped their price objective on shares of WSP Global from C$317.00 to C$350.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Desjardins boosted their price objective on shares of WSP Global from C$301.00 to C$313.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Canaccord Genuity Group upped their price target on shares of WSP Global from C$305.00 to C$335.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Scotiabank upped their target price on shares of WSP Global from C$306.00 to C$308.00 in a report on Friday. Finally, BMO Capital Markets upped their price target on shares of WSP Global from C$312.00 to C$324.00 in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of C$314.67.

WSP Global Stock Performance

WSP Global stock traded up C$4.05 during mid-day trading on Monday, reaching C$280.51. 65,522 shares of the company traded hands, compared to its average volume of 241,046. The firm's fifty day moving average is C$280.21 and its two-hundred day moving average is C$272.11. The company has a market capitalization of C$36.61 billion, a price-to-earnings ratio of 45.76, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57. The company has a debt-to-equity ratio of 80.45, a current ratio of 1.26 and a quick ratio of 1.04. WSP Global has a fifty-two week low of C$217.42 and a fifty-two week high of C$291.46.

Insider Transactions at WSP Global

In other news, Director Alexandre L'heureux sold 25,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of C$280.25, for a total transaction of C$7,006,250.00. Following the sale, the director owned 37,809 shares of the company's stock, valued at C$10,595,972.25. This trade represents a 39.80% decrease in their ownership of the stock. Also, insider Alain Michaud sold 6,068 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$280.43, for a total value of C$1,701,649.24. Following the completion of the transaction, the insider owned 6,493 shares of the company's stock, valued at approximately C$1,820,831.99. This represents a 48.31% decrease in their ownership of the stock. Insiders have sold a total of 78,781 shares of company stock valued at $22,092,534 over the last 90 days. 0.06% of the stock is owned by company insiders.

About WSP Global

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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