Royal Bank Of Canada Cuts WSP Global (TSE:WSP) Price Target to C$316.00

WSP Global (TSE:WSP) had its target price decreased by Royal Bank Of Canada from C$318.00 to C$316.00 in a research note issued to investors on Friday,BayStreet.CA reports.

WSP has been the topic of a number of other research reports. Scotiabank increased their target price on WSP Global from C$306.00 to C$308.00 in a report on Friday, October 17th. Desjardins upped their price objective on WSP Global from C$301.00 to C$313.00 and gave the company a “buy” rating in a research report on Friday, August 8th. 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 research report on Friday, August 8th. CIBC boosted their target price on shares of WSP Global from C$318.00 to C$349.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, TD Securities raised their price target on shares of WSP Global from C$328.00 to C$330.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to data from MarketBeat, WSP Global presently has an average rating of “Buy” and a consensus target price of C$318.42.

WSP Global Stock Up 1.3%

Shares of TSE WSP opened at C$257.83 on Friday. The firm’s 50-day moving average is C$277.47 and its two-hundred day moving average is C$275.77. The company has a market capitalization of C$33.67 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.51. WSP Global has a 12-month low of C$217.42 and a 12-month high of C$291.46. The company has a debt-to-equity ratio of 80.45, a current ratio of 1.26 and a quick ratio of 1.04.

Insiders Place Their Bets

In other news, Director Alexandre L’heureux sold 25,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 37,809 shares in the company, valued at C$10,595,972.25. This represents a 39.80% decrease in their position. Also, insider Alain Michaud sold 6,068 shares of the firm’s stock in a transaction that occurred 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 directly owned 6,493 shares in the company, valued at C$1,820,831.99. This represents a 48.31% decrease in their ownership of the stock. In the last ninety days, insiders have sold 78,781 shares of company stock valued at $22,092,534. Insiders own 0.06% of the company’s stock.

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).