CIBC Has Lowered Expectations for WSP Global (TSE:WSP) Stock Price

WSP Global (TSE:WSP) had its price objective cut by investment analysts at CIBC from C$349.00 to C$342.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 32.65% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. ATB Capital lifted their price objective on WSP Global from C$270.00 to C$305.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. BMO Capital Markets boosted their price target on shares of WSP Global from C$330.00 to C$335.00 in a research report on Thursday. National Bankshares raised their price objective on shares of WSP Global from C$292.00 to C$297.00 in a report on Friday, August 8th. TD Securities lifted their price objective on shares of WSP Global from C$328.00 to C$330.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, Stifel Nicolaus raised their target price on WSP Global from C$317.00 to C$350.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, WSP Global currently has a consensus rating of “Buy” and a consensus price target of C$318.42.

WSP Global Stock Performance

WSP traded up C$3.39 during trading on Friday, hitting C$257.83. 462,010 shares of the company traded hands, compared to its average volume of 244,851. WSP Global has a one year low of C$217.42 and a one year high of C$291.46. The stock’s fifty day moving average is C$277.91 and its 200 day moving average is C$275.28. The firm has a market cap of C$33.65 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 1.09 and a beta of 0.51. The company has a quick ratio of 1.04, a current ratio of 1.26 and a debt-to-equity ratio of 80.45.

Insiders Place Their Bets

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 transaction, the director directly owned 37,809 shares of the company’s stock, valued at approximately 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 WSP Global stock in a transaction dated Thursday, August 14th. The stock was 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 in the company, valued at approximately 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 quarter. 0.06% of the stock is owned by corporate insiders.

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).