Waste Connections (NYSE:WCN – Get Free Report) had its price objective upped by stock analysts at Citigroup from $195.00 to $196.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price points to a potential upside of 11.85% from the stock’s current price.
Several other research firms have also commented on WCN. Royal Bank of Canada increased their price target on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Oppenheimer increased their target price on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley lifted their price target on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Eight Capital raised Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.
Get Our Latest Stock Report on WCN
Waste Connections Price Performance
Waste Connections (NYSE:WCN – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. Equities analysts predict that Waste Connections will post 4.84 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Waste Connections
A number of institutional investors have recently bought and sold shares of WCN. Park Avenue Securities LLC boosted its holdings in shares of Waste Connections by 16.7% in the 4th quarter. Park Avenue Securities LLC now owns 7,945 shares of the business services provider’s stock valued at $1,362,000 after acquiring an additional 1,135 shares during the last quarter. Tuttle Capital Management LLC lifted its position in Waste Connections by 34.6% during the fourth quarter. Tuttle Capital Management LLC now owns 2,302 shares of the business services provider’s stock valued at $395,000 after purchasing an additional 592 shares during the period. JCIC Asset Management Inc. lifted its position in Waste Connections by 1.5% during the fourth quarter. JCIC Asset Management Inc. now owns 35,887 shares of the business services provider’s stock valued at $6,152,000 after purchasing an additional 515 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Waste Connections by 21.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,542 shares of the business services provider’s stock valued at $991,000 after purchasing an additional 967 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its position in Waste Connections by 20.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 129,256 shares of the business services provider’s stock worth $22,178,000 after purchasing an additional 22,310 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.
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.
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