Waste Connections (NYSE:WCN) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Waste Connections (NYSE:WCNFree Report) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other research firms have also commented on WCN. Wells Fargo & Company raised their target price on Waste Connections from $160.00 to $170.00 and gave the stock an overweight rating in a report on Wednesday, December 13th. Jefferies Financial Group raised their target price on Waste Connections from $170.00 to $175.00 and gave the stock a buy rating in a report on Thursday, January 25th. Wolfe Research reaffirmed a peer perform rating on shares of Waste Connections in a report on Tuesday, November 21st. Oppenheimer raised their target price on Waste Connections from $154.00 to $155.00 and gave the stock an outperform rating in a report on Friday, January 12th. Finally, Morgan Stanley increased their price target on Waste Connections from $171.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, December 4th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $162.69.

Check Out Our Latest Research Report on WCN

Waste Connections Stock Up 0.5 %

Waste Connections stock opened at $156.71 on Friday. The firm has a market cap of $40.38 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 2.92 and a beta of 0.65. Waste Connections has a 52 week low of $126.12 and a 52 week high of $158.49. The business’s 50-day moving average price is $149.18 and its 200 day moving average price is $141.14. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.90.

Insider Activity

In other news, SVP Philip Rivard sold 5,097 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $146.26, for a total value of $745,487.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently made changes to their positions in WCN. Bank of Montreal Can acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $1,182,897,000. Norges Bank acquired a new stake in shares of Waste Connections in the fourth quarter valued at approximately $602,107,000. Royal Bank of Canada increased its holdings in shares of Waste Connections by 20.5% in the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after purchasing an additional 1,920,302 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Waste Connections by 57.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock valued at $522,988,000 after purchasing an additional 1,281,418 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Waste Connections by 12.8% in the third quarter. WCM Investment Management LLC now owns 10,218,545 shares of the business services provider’s stock valued at $1,378,788,000 after purchasing an additional 1,157,470 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

Waste Connections Company Profile

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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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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