Waste Connections, Inc. (NYSE:WCN) Given New $76.00 Price Target at Barclays PLC
Waste Connections, Inc. (NYSE:WCN) had its price objective upped by research analysts at Barclays PLC from $70.00 to $76.00 in a report released on Monday. The firm currently has an “overweight” rating on the business services provider’s stock. Barclays PLC’s price target points to a potential upside of 16.94% from the stock’s previous close.
WCN has been the topic of several other research reports. Royal Bank Of Canada set a $102.00 target price on shares of Waste Connections and gave the stock an “outperform” rating in a research report on Monday, June 19th. Zacks Investment Research cut shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Credit Suisse Group reissued a “buy” rating and set a $75.00 target price on shares of Waste Connections in a research report on Friday, June 23rd. BidaskClub cut shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, TD Securities lifted their target price on shares of Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $70.47.
Waste Connections (NYSE WCN) traded up 0.68% during mid-day trading on Monday, reaching $65.43. The company’s stock had a trading volume of 328,500 shares. The company has a market cap of $17.24 billion, a price-to-earnings ratio of 55.64 and a beta of 0.23. Waste Connections has a 52-week low of $47.81 and a 52-week high of $67.14. The firm has a 50 day moving average price of $64.96 and a 200 day moving average price of $60.17.
Waste Connections (NYSE:WCN) last posted its earnings results on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 61.6% compared to the same quarter last year. Equities research analysts anticipate that Waste Connections will post $2.13 earnings per share for the current year.
Waste Connections announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 2nd that allows the company to buyback 13,180,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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In other Waste Connections news, Director Susan Lee bought 1,200 shares of the stock in a transaction on Tuesday, May 16th. The shares were acquired at an average price of $92.05 per share, with a total value of $110,460.00. Following the acquisition, the director now directly owns 3,679 shares of the company’s stock, valued at approximately $338,651.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward E. Guillet sold 11,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $65.27, for a total transaction of $750,605.00. The disclosure for this sale can be found here. Insiders have sold a total of 93,900 shares of company stock worth $6,871,801 in the last three months. Insiders own 0.68% of the company’s stock.
A number of large investors have recently modified their holdings of WCN. Spirit of America Management Corp NY acquired a new position in Waste Connections during the first quarter valued at about $110,000. Independent Portfolio Consultants Inc. boosted its position in Waste Connections by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after buying an additional 168 shares during the last quarter. US Bancorp DE boosted its position in Waste Connections by 14.3% in the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after buying an additional 271 shares during the last quarter. Creative Planning boosted its position in Waste Connections by 223.5% in the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after buying an additional 1,656 shares during the last quarter. Finally, Capital One National Association acquired a new position in Waste Connections during the first quarter valued at about $208,000. 59.68% of the stock is currently owned by institutional investors and hedge funds.
Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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