Waste Connections’ (WCN) Buy Rating Reaffirmed at Stifel Nicolaus

Waste Connections (NYSE:WCN)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a research report issued on Thursday, January 4th. They currently have a $85.00 price target on the business services provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 19.87% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Waste Connections from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Bank of America initiated coverage on shares of Waste Connections in a research report on Friday, December 22nd. They set a “buy” rating and a $80.00 price objective on the stock. KeyCorp reissued a “buy” rating and set a $78.00 price objective on shares of Waste Connections in a research report on Friday, October 27th. Finally, Oppenheimer boosted their price objective on shares of Waste Connections from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $78.47.

Shares of Waste Connections (WCN) opened at $70.91 on Thursday. Waste Connections has a 1 year low of $52.29 and a 1 year high of $74.20. The stock has a market cap of $18,694.78, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 3.77 and a beta of 0.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.46.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. Waste Connections’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. equities research analysts anticipate that Waste Connections will post 2.13 EPS for the current year.

In other Waste Connections news, Director Robert Davis sold 700 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the completion of the transaction, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sheets Smith Wealth Management bought a new position in shares of Waste Connections during the 4th quarter valued at approximately $1,135,000. First Citizens Bank & Trust Co. boosted its position in shares of Waste Connections by 11.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,483 shares of the business services provider’s stock valued at $815,000 after acquiring an additional 1,153 shares during the last quarter. DnB Asset Management AS boosted its position in shares of Waste Connections by 11.9% during the 4th quarter. DnB Asset Management AS now owns 18,800 shares of the business services provider’s stock valued at $1,334,000 after acquiring an additional 2,000 shares during the last quarter. AXA boosted its position in shares of Waste Connections by 60.7% during the 3rd quarter. AXA now owns 141,965 shares of the business services provider’s stock valued at $9,932,000 after acquiring an additional 53,598 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Waste Connections by 57.4% during the 3rd quarter. GSA Capital Partners LLP now owns 28,835 shares of the business services provider’s stock valued at $2,017,000 after acquiring an additional 10,513 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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Waste Connections Company Profile

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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