Oppenheimer Increases Waste Connections (NYSE:WCN) Price Target to $218.00

Waste Connections (NYSE:WCN) had its price objective lifted by stock analysts at Oppenheimer from $216.00 to $218.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 20.40% from the company’s current price.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Waste Connections from $197.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Scotiabank increased their price objective on Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 8th. Truist Financial set a $220.00 price objective on Waste Connections in a research note on Friday, April 25th. Melius initiated coverage on Waste Connections in a research note on Monday, June 9th. They issued a “buy” rating for the company. Finally, Melius Research raised Waste Connections to a “strong-buy” rating and set a $213.00 price objective for the company in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $213.93.

Waste Connections Stock Down 0.6%

Shares of Waste Connections stock opened at $181.07 on Wednesday. The stock’s 50-day moving average is $190.60 and its 200 day moving average is $187.57. Waste Connections has a one year low of $169.36 and a one year high of $201.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $46.79 billion, a price-to-earnings ratio of 74.51, a PEG ratio of 3.16 and a beta of 0.60.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.06. Waste Connections had a return on equity of 15.74% and a net margin of 6.93%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business earned $1.04 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts anticipate that Waste Connections will post 5.28 EPS for the current year.

Hedge Funds Weigh In On Waste Connections

Several institutional investors and hedge funds have recently bought and sold shares of WCN. Vanguard Group Inc. grew its position in shares of Waste Connections by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock valued at $5,901,049,000 after purchasing an additional 954,242 shares in the last quarter. Bank of Montreal Can grew its position in shares of Waste Connections by 4.3% in the fourth quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider’s stock valued at $1,481,041,000 after purchasing an additional 356,798 shares in the last quarter. FIL Ltd grew its position in shares of Waste Connections by 46.2% in the fourth quarter. FIL Ltd now owns 7,177,724 shares of the business services provider’s stock valued at $1,231,368,000 after purchasing an additional 2,269,652 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Waste Connections by 0.3% in the first quarter. WCM Investment Management LLC now owns 6,383,780 shares of the business services provider’s stock valued at $1,230,984,000 after purchasing an additional 18,400 shares in the last quarter. Finally, Capital International Investors grew its position in shares of Waste Connections by 17.8% in the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider’s stock valued at $1,020,672,000 after purchasing an additional 899,058 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.