Bank of America assumed coverage on shares of Waste Connections (NYSE:WCN) in a research note issued on Thursday. The firm set a “buy” rating and a $80.00 price target on the business services provider’s stock. Bank of America’s price target would indicate a potential upside of 12.91% from the stock’s previous close.
WCN has been the subject of a number of other research reports. Credit Suisse Group set a $82.00 target price on shares of Waste Connections and gave the company an “outperform” rating in a research note on Tuesday, October 31st. KeyCorp lifted their target price on shares of Waste Connections from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Oppenheimer lifted their target price on shares of Waste Connections from $74.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets began coverage on shares of Waste Connections in a research note on Monday, December 11th. They issued an “outperform” rating and a $79.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $78.14.
Shares of Waste Connections (WCN) traded down $0.17 on Thursday, reaching $70.85. 940,900 shares of the company’s stock were exchanged, compared to its average volume of 794,555. The company has a market capitalization of $18,723.78, a PE ratio of 53.67, a price-to-earnings-growth ratio of 4.22 and a beta of 0.17. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. Waste Connections has a 1 year low of $52.24 and a 1 year high of $74.20.
In related news, COO Darrell W. Chambliss sold 5,625 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total value of $399,318.75. Following the completion of the sale, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Davis sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
Several institutional investors have recently modified their holdings of WCN. Vanguard Group Inc. increased its holdings in shares of Waste Connections by 55.9% in the second quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock valued at $1,449,523,000 after purchasing an additional 8,068,453 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Waste Connections by 59.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock worth $757,414,000 after acquiring an additional 4,380,232 shares during the period. Royal Bank of Canada grew its holdings in Waste Connections by 59.9% during the 2nd quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock worth $647,028,000 after acquiring an additional 3,762,212 shares during the period. CIBC World Markets Inc. acquired a new stake in Waste Connections during the 2nd quarter worth $207,877,000. Finally, Janus Henderson Group PLC grew its holdings in Waste Connections by 16,829.1% during the 2nd quarter. Janus Henderson Group PLC now owns 2,138,483 shares of the business services provider’s stock worth $137,761,000 after acquiring an additional 2,125,851 shares during the period. 82.90% of the stock is owned by institutional investors and hedge funds.
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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.
