Waste Connections (NYSE:WCN) Price Target Raised to $152.00

Waste Connections (NYSE:WCNGet Rating) had its target price boosted by equities research analysts at Royal Bank of Canada from $147.00 to $152.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.88% from the stock’s current price.

A number of other research firms also recently issued reports on WCN. Scotiabank downgraded shares of Waste Connections from a “sector outperform” rating to a “sector perform” rating and set a $135.00 price target for the company. in a research report on Thursday, April 7th. BMO Capital Markets lifted their price objective on Waste Connections from $143.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James lifted their price objective on Waste Connections from $145.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 22nd. Morgan Stanley lifted their price objective on Waste Connections from $146.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Oppenheimer set a $135.00 price objective on Waste Connections in a research report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $147.13.

Waste Connections Price Performance

WCN stock opened at $138.33 on Thursday. The firm has a 50 day moving average of $125.48 and a 200-day moving average of $128.63. Waste Connections has a 12-month low of $113.50 and a 12-month high of $145.62. The company has a current ratio of 0.94, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The company has a market cap of $35.57 billion, a price-to-earnings ratio of 52.40, a PEG ratio of 2.94 and a beta of 0.72.

Waste Connections (NYSE:WCNGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Waste Connections had a net margin of 10.25% and a return on equity of 13.38%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. Waste Connections’s revenue was up 17.9% on a year-over-year basis. As a group, equities analysts expect that Waste Connections will post 3.71 EPS for the current fiscal year.

Institutional Trading of Waste Connections

Hedge funds and other institutional investors have recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Waste Connections during the 4th quarter valued at $28,000. Venture Visionary Partners LLC purchased a new stake in shares of Waste Connections during the 2nd quarter valued at $35,000. Pacifica Partners Inc. grew its stake in shares of Waste Connections by 49.0% during the 1st quarter. Pacifica Partners Inc. now owns 365 shares of the business services provider’s stock valued at $46,000 after buying an additional 120 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of Waste Connections during the 2nd quarter valued at $46,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Waste Connections during the 1st quarter valued at $63,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

About Waste Connections

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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.

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