Waste Connections (NYSE:WCN) Price Target Cut to $204.00 by Analysts at Scotiabank

Waste Connections (NYSE:WCN) had its price objective cut by Scotiabank from $210.00 to $204.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have a sector outperform rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays restated a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price target on Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. CIBC set a $208.00 target price on shares of Waste Connections in a research note on Thursday, January 8th. Finally, Citigroup reaffirmed a “neutral” rating and set a $183.00 target price (down from $196.00) on shares of Waste Connections in a research report on Friday, January 16th. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $206.74.

Waste Connections Price Performance

NYSE WCN opened at $166.50 on Wednesday. The business’s fifty day moving average is $172.55 and its 200 day moving average is $176.44. The company has a market capitalization of $42.57 billion, a PE ratio of 69.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.63. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections has a fifty-two week low of $162.06 and a fifty-two week high of $201.66.

Waste Connections (NYSE:WCN) last released its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm posted $1.35 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Waste Connections will post 5.28 earnings per share for the current year.

Insider Buying and Selling at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the transaction, the director directly owned 14,883 shares in the company, valued at $2,596,190.52. The trade was a 37.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Waste Connections

Hedge funds have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the 3rd quarter valued at about $26,000. Asset Dedication LLC acquired a new position in Waste Connections in the second quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp acquired a new position in Waste Connections in the third quarter valued at approximately $30,000. Greykasell Wealth Strategies Inc. boosted its position in Waste Connections by 555.2% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in shares of Waste Connections during the 2nd quarter worth approximately $39,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.