Canaccord Genuity Downgrades Progressive Waste Solutions Ltd to Hold (BIN)
Progressive Waste Solutions Ltd (TSE:BIN) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued on Friday, Analyst Ratings Net reports. They currently have a C$26.50 price target on the stock, up from their previous price target of C$25.50. Canaccord Genuity’s price objective suggests a potential downside of 1.30% from the stock’s previous close.
A number of other analysts have also recently weighed in on BIN. Analysts at TD Securities downgraded shares of Progressive Waste Solutions Ltd from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a C$28.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Progressive Waste Solutions Ltd from C$28.00 to C$31.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Progressive Waste Solutions Ltd from C$25.00 to C$30.00 in a research note to investors on Monday, September 23rd. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$27.22.
Progressive Waste Solutions Ltd (TSE:BIN) opened at 26.85 on Friday. Progressive Waste Solutions Ltd has a 52-week low of $18.18 and a 52-week high of $27.49. The stock has a 50-day moving average of $25.22 and a 200-day moving average of $23.11. The company has a market cap of $3.083 billion and a price-to-earnings ratio of 29.25.
Progressive Waste Solutions Ltd., formerly IESI-BFC Ltd. is a waste management company. The Company provides non-hazardous solid waste collection and disposal services to commercial, industrial, municipal and residential customers in 12 states and the District of Columbia in the United States and six Canadian provinces.
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