CIBC Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its price target lifted by investment analysts at CIBC from $227.00 to $247.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. CIBC’s price objective would suggest a potential upside of 7.44% from the stock’s current price.

WM has been the subject of a number of other reports. Jefferies Financial Group lowered their price objective on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Citigroup increased their price target on Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank lifted their price target on Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Raymond James upped their price objective on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.65.

Waste Management Price Performance

WM traded down $0.07 on Wednesday, hitting $229.89. 560,859 shares of the stock were exchanged, compared to its average volume of 1,518,891. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management has a 12 month low of $196.59 and a 12 month high of $235.81. The firm has a market capitalization of $92.44 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.71 and a beta of 0.78. The business has a 50-day moving average of $216.80 and a two-hundred day moving average of $214.38.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Sell-side analysts forecast that Waste Management will post 7.7 EPS for the current fiscal year.

Insider Activity at Waste Management

In related news, SVP Tara J. Hemmer sold 4,576 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,016,421.12. Following the transaction, the senior vice president now directly owns 58,765 shares in the company, valued at $13,052,881.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Johnson Varkey sold 124 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total transaction of $29,135.04. Following the sale, the senior vice president now owns 8,491 shares of the company’s stock, valued at $1,995,045.36. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,406 shares of company stock worth $15,076,127 in the last quarter. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Activest Wealth Management boosted its stake in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the last quarter. Transce3nd LLC bought a new stake in Waste Management during the fourth quarter worth $28,000. General Partner Inc. bought a new position in Waste Management during the 4th quarter valued at $29,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Waste Management during the 4th quarter worth $33,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.