Waste Connections (NYSE:WCN) PT Raised to $200.00

Waste Connections (NYSE:WCN) had its price objective upped by investment analysts at Truist Financial from $180.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target suggests a potential upside of 10.77% from the company’s current price.

Several other research analysts have also recently weighed in on WCN. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective on the stock. CIBC raised their price target on Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada decreased their price target on Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Finally, Jefferies Financial Group raised their price target on Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $180.88.

Waste Connections Stock Up 0.9 %

WCN opened at $180.56 on Thursday. Waste Connections has a 1-year low of $126.12 and a 1-year high of $181.39. The stock’s fifty day simple moving average is $169.85 and its 200 day simple moving average is $164.44. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. The stock has a market cap of $46.59 billion, a PE ratio of 58.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 EPS. As a group, research analysts expect that Waste Connections will post 4.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Robert Nielsen III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the sale, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Robert Nielsen III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the sale, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the transaction, the director now directly owns 8,004 shares in the company, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,500 shares of company stock worth $752,385. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. purchased a new stake in Waste Connections during the 4th quarter worth about $25,000. Hexagon Capital Partners LLC lifted its holdings in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Waste Connections during the 1st quarter worth about $32,000. Headinvest LLC purchased a new stake in Waste Connections during the 3rd quarter worth about $36,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Waste Connections during the 1st quarter worth about $43,000. 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.