WSP Global (TSE:WSP) Shares Cross Above 50 Day Moving Average - Should You Sell?

Key Points

• WSP Global's stock price crossed above its 50-day moving average, reaching as high as C$285.55 during trading, indicating a potential upward momentum.
• Analysts have raised their target prices for WSP Global, with BMO Capital Markets setting a new target of C$324.00 and Canaccord Genuity increasing theirs to C$335.00, reflecting strong buying interest.
• Recent insider trades reveal significant selling activity, with a total of 78,781 shares sold over the last quarter, raising questions about insider confidence in the company's future performance.

WSP Global Inc. (TSE:WSP - Get Free Report)'s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$280.23 and traded as high as C$285.55. WSP Global shares last traded at C$284.91, with a volume of 266,552 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WSP shares. BMO Capital Markets boosted their target price on shares of WSP Global from C$312.00 to C$324.00 in a research report on Thursday, August 7th. 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 report on Wednesday, July 30th. Stifel Nicolaus upped their target price on shares of WSP Global from C$317.00 to C$350.00 and gave the company a "buy" rating in a research report on Monday, October 6th. CIBC upped their price target on WSP Global from C$305.00 to C$317.00 in a research note on Friday, July 18th. Finally, ATB Capital increased their target price on WSP Global from C$270.00 to C$305.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$309.92.

WSP Global Trading Up 2.0%

The company has a market cap of C$37.19 billion, a price-to-earnings ratio of 46.48, a P/E/G ratio of 1.09 and a beta of 0.57. The company has a debt-to-equity ratio of 80.45, a quick ratio of 1.04 and a current ratio of 1.26. The firm has a fifty day moving average price of C$280.23 and a 200 day moving average price of C$271.19.

Insider Buying and Selling at WSP Global

In other WSP Global news, insider Alain Michaud sold 6,068 shares of the firm's 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 completion of the sale, the insider owned 6,493 shares of the company's stock, valued at C$1,820,831.99. This trade represents a 48.31% decrease in their position. Also, insider Philippe Fortier sold 7,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of C$280.43, for a total value of C$1,963,010.00. Following the sale, the insider directly owned 1,747 shares of the company's stock, valued at C$489,911.21. This represents a 80.03% decrease in their position. Insiders sold 78,781 shares of company stock valued at $22,092,534 in the last quarter. 0.06% of the stock is currently owned by 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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