Waste Connections (WCN) PT Raised to $84.00

Waste Connections (NYSE:WCN) had its price target upped by research analysts at BMO Capital Markets from $82.00 to $84.00 in a note issued to investors on Friday. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 11.94% from the stock’s current price.

Several other equities research analysts also recently commented on WCN. UBS Group initiated coverage on shares of Waste Connections in a research report on Thursday, March 15th. They issued a “buy” rating and a $91.00 price target for the company. Zacks Investment Research downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. Finally, Royal Bank of Canada upped their price target on shares of Waste Connections from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, May 4th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $80.67.

Shares of NYSE:WCN opened at $75.04 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $19.66 billion, a P/E ratio of 34.74, a PEG ratio of 2.24 and a beta of 0.18. Waste Connections has a 52 week low of $63.14 and a 52 week high of $78.48.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Waste Connections had a net margin of 14.68% and a return on equity of 9.68%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. research analysts expect that Waste Connections will post 2.52 earnings per share for the current year.

In other Waste Connections news, insider James Little sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $76.28, for a total value of $228,840.00. Following the completion of the sale, the insider now owns 22,709 shares in the company, valued at approximately $1,732,242.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Stephen Black sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $75.94, for a total transaction of $379,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,500 shares of company stock valued at $2,994,745. Insiders own 0.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in WCN. Renaissance Technologies LLC increased its stake in shares of Waste Connections by 39.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,786,911 shares of the business services provider’s stock worth $197,732,000 after purchasing an additional 794,700 shares during the last quarter. Millennium Management LLC increased its stake in shares of Waste Connections by 553.0% during the 4th quarter. Millennium Management LLC now owns 712,538 shares of the business services provider’s stock worth $50,547,000 after purchasing an additional 603,416 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Waste Connections by 1,918.9% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 522,742 shares of the business services provider’s stock worth $37,481,000 after purchasing an additional 496,850 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Waste Connections by 243.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 692,802 shares of the business services provider’s stock worth $49,147,000 after purchasing an additional 491,068 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Waste Connections by 4.6% during the 1st quarter. Royal Bank of Canada now owns 10,560,499 shares of the business services provider’s stock worth $757,609,000 after purchasing an additional 467,951 shares during the last quarter. Institutional investors own 83.21% of the company’s stock.

About Waste Connections

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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