Waste Connections (NYSE:WCN – Get Free Report) had its price objective upped by research analysts at Scotiabank from $193.00 to $201.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank‘s target price would suggest a potential upside of 8.24% from the company’s previous close.
WCN has been the topic of several other reports. Raymond James Financial set a $189.00 price target on Waste Connections in a research report on Friday, October 9th. Oppenheimer reiterated an “outperform” rating on shares of Waste Connections in a research report on Friday. TD Cowen reissued a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $205.00 target price on shares of Waste Connections in a report on Thursday. Finally, Barclays reaffirmed a “positive” rating and issued a $189.00 target price on shares of Waste Connections in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.83.
Read Our Latest Analysis on Waste Connections
Waste Connections Stock Up 10.4%
Shares of NYSE:WCN opened at $185.70 on Friday. The stock’s 50-day moving average price is $161.34 and its 200-day moving average price is $161.56. Waste Connections has a 12-month low of $146.89 and a 12-month high of $186.93. The stock has a market capitalization of $46.53 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.95 and a beta of 0.49. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17.
Waste Connections (NYSE:WCN – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.52 by $0.06. Waste Connections had a return on equity of 17.65% and a net margin of 11.40%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.60 billion. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts anticipate that Waste Connections will post 5.65 earnings per share for the current year.
Insider Transactions at Waste Connections
In related news, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president owned 734 shares of the company’s stock, valued at $122,262.38. This trade represents a 77.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert Cloninger sold 2,811 shares of Waste Connections stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of WCN. XXEC Inc. purchased a new stake in Waste Connections in the second quarter worth about $164,870,000. BlackRock Inc. bought a new stake in Waste Connections in the second quarter worth $1,061,947,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Waste Connections during the 2nd quarter valued at about $589,671,000. Bank of America Corp DE purchased a new position in shares of Waste Connections in the 2nd quarter worth approximately $510,526,000. Finally, Wellington Management Group LLP purchased a new position in shares of Waste Connections in the 2nd quarter worth approximately $477,944,000. 86.09% of the stock is owned by institutional investors.
Waste Connections Company Profile
Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.
Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.
Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.
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