Waste Connections (NYSE:WCN) Given New $195.00 Price Target at Oppenheimer

Waste Connections (NYSE:WCN) had its price objective hoisted by investment analysts at Oppenheimer from $192.00 to $195.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target would indicate a potential upside of 8.36% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Royal Bank of Canada increased their target price on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on Waste Connections from $206.00 to $214.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank initiated coverage on shares of Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price objective on the stock. BMO Capital Markets cut their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Citigroup increased their price target on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.88.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $179.95 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $184.12 and a 200-day simple moving average of $180.13. The stock has a market capitalization of $46.44 billion, a price-to-earnings ratio of 49.44, a PEG ratio of 3.08 and a beta of 0.74. Waste Connections has a 1-year low of $144.69 and a 1-year high of $194.83.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Global Trust Asset Management LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at $36,000. FSA Wealth Management LLC bought a new position in Waste Connections during the 3rd quarter valued at about $40,000. Asset Dedication LLC bought a new position in Waste Connections during the 3rd quarter valued at about $41,000. Continuum Advisory LLC boosted its position in Waste Connections by 58.0% in the third 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, Kennebec Savings Bank bought a new stake in Waste Connections during the third quarter worth about $47,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

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.