Waste Connections (NYSE:WCN) PT Raised to $191.00 at CIBC

Waste Connections (NYSE:WCN) had its target price upped by analysts at CIBC from $181.00 to $191.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. CIBC’s target price indicates a potential upside of 7.59% from the company’s current price.

WCN has been the subject of several other research reports. BMO Capital Markets upped their price objective on shares of Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Jefferies Financial Group boosted their price target on Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada reduced their price objective on Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft started coverage on Waste Connections in a research note on Thursday, May 23rd. They set a “buy” rating and a $189.00 target price for the company. Finally, StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Waste Connections Stock Up 1.4 %

WCN stock opened at $177.52 on Wednesday. Waste Connections has a fifty-two week low of $126.12 and a fifty-two week high of $177.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 57.64, a PEG ratio of 2.79 and a beta of 0.72. The business’s fifty day moving average price is $167.76 and its two-hundred day moving average price is $163.03.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. On average, equities analysts anticipate that Waste Connections will post 4.85 earnings per share for the current year.

Insider Activity

In related news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, May 10th. The stock was 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 of the company’s stock, valued at $1,341,390.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $169.00, for a total transaction of $169,000.00. Following the completion of the sale, the senior vice president now directly owns 5,321 shares in the company, valued at approximately $899,249. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the transaction, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,500 shares of company stock valued at $752,385. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Waste Connections

Large investors have recently modified their holdings of the stock. Pacifica Partners Inc. acquired a new position in shares of Waste Connections during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC increased its holdings in shares of Waste Connections by 116.2% during the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Waste Connections during the first quarter valued at approximately $32,000. Headinvest LLC acquired a new position in shares of Waste Connections during the third quarter worth approximately $36,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Waste Connections in the 1st quarter worth $43,000. Institutional investors and hedge funds 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.