Waste Connections (NYSE:WCN) Price Target Raised to $214.00

Waste Connections (NYSE:WCN) had its target price raised by equities researchers at Morgan Stanley from $206.00 to $214.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 18.95% from the stock’s current price.

Other equities analysts have also issued reports about the company. Raymond James reduced their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. CIBC upped their price objective on Waste Connections from $199.00 to $215.00 and gave the company an “outperformer” rating in a research note on Wednesday, December 4th. Eight Capital upgraded Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets lowered their price objective on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.88.

Waste Connections Stock Down 2.4 %

Shares of NYSE:WCN opened at $179.91 on Thursday. The business’s 50 day moving average is $184.05 and its 200 day moving average is $179.91. Waste Connections has a 12-month low of $144.69 and a 12-month high of $194.83. The stock has a market cap of $46.43 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 3.08 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm earned $1.17 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Waste Connections will post 4.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Trust Asset Management LLC purchased a new position in Waste Connections in the third quarter worth $36,000. FSA Wealth Management LLC purchased a new position in shares of Waste Connections in the 3rd quarter worth about $40,000. Asset Dedication LLC bought a new position in shares of Waste Connections during the 3rd quarter valued at about $41,000. Continuum Advisory LLC raised its holdings in shares of Waste Connections by 58.0% during the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after buying an additional 83 shares in the last quarter. Finally, Signature Resources Capital Management LLC bought a new stake in Waste Connections in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

About Waste Connections

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.