Waste Connections (NYSE:WCN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday, January 6th. The firm presently has a $78.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 8.60% from the company’s previous close.
According to Zacks, “With prime location of disposal sites within competitive markets, Waste Connections has optimal asset positioning to generate higher profitability. An experienced management team, decentralized operating strategy and financial strength remain additional tailwinds. Moreover, the merger with Progressive Waste Solutions has enhanced its scale of operations. In addition, a decentralized management enables it to identify and address customers’ needs on a real-time basis in a cost-effective manner. However, volatility in crude oil prices is expected to impair the profitability and creditworthiness of Waste Connections and adversely affect the level of investment and linear feet drilled in the basins where it operates. Seasonal factors, continuous changes to federal laws and stiff competition due to low barriers to entry remain additional challenges for the company. The stock also underperformed the industry in the last three months.”
Several other research analysts have also commented on the stock. Royal Bank of Canada increased their price target 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. BMO Capital Markets started coverage on shares of Waste Connections in a research note on Monday, December 11th. They issued an “outperform” rating and a $79.00 target price on the stock. Bank of America started coverage on shares of Waste Connections in a research note on Thursday, December 28th. They issued a “buy” rating and a $80.00 target price on the stock. Credit Suisse Group set a $82.00 target price on shares of Waste Connections and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 target price on shares of Waste Connections in a research note on Thursday, January 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $78.56.
Waste Connections (WCN) opened at $71.82 on Friday. Waste Connections has a 12 month low of $52.95 and a 12 month high of $74.20. The company has a market cap of $18,930.00, a price-to-earnings ratio of 54.41, a PEG ratio of 3.86 and a beta of 0.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.46.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Waste Connections by 55.9% during the 2nd quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock worth $1,449,523,000 after acquiring an additional 8,068,453 shares during the period. Royal Bank of Canada lifted its holdings in shares of Waste Connections by 59.9% during the 2nd quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock worth $647,028,000 after acquiring an additional 3,762,212 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of Waste Connections by 8.3% during the 2nd quarter. Maverick Capital Ltd. now owns 5,537,682 shares of the business services provider’s stock worth $356,737,000 after acquiring an additional 426,642 shares during the period. FMR LLC lifted its holdings in shares of Waste Connections by 64.3% during the 2nd quarter. FMR LLC now owns 5,344,512 shares of the business services provider’s stock worth $344,257,000 after acquiring an additional 2,091,432 shares during the period. Finally, TD Asset Management Inc. lifted its holdings in shares of Waste Connections by 0.8% during the 3rd quarter. TD Asset Management Inc. now owns 4,852,132 shares of the business services provider’s stock worth $338,619,000 after acquiring an additional 36,360 shares during the period. Institutional investors own 82.42% of the company’s stock.
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About Waste Connections
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.
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