Waste Connections (WCN) Rating Reiterated by Stifel Nicolaus

Waste Connections (NYSE:WCN)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a report released on Thursday. They presently have a $85.00 target price on the business services provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 21.01% from the stock’s current price.

A number of other research analysts also recently commented on WCN. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, October 5th. KeyCorp increased their target price on Waste Connections from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. TD Securities increased their target price on Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Royal Bank of Canada increased their target price on Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Oppenheimer increased their target price on Waste Connections from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $78.56.

Shares of Waste Connections (NYSE:WCN) traded up $0.96 on Thursday, reaching $70.24. The company had a trading volume of 558,547 shares, compared to its average volume of 1,184,150. The stock has a market capitalization of $18,560.00, a P/E ratio of 53.21, a P/E/G ratio of 3.74 and a beta of 0.18. Waste Connections has a 1 year low of $52.29 and a 1 year high of $74.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.46 and a quick ratio of 1.46.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. Waste Connections’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. sell-side analysts anticipate that Waste Connections will post 2.13 earnings per share for the current year.

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 stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the sale, the chief operating officer now owns 101,292 shares of the company’s stock, valued at approximately $7,190,719.08. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new stake in Waste Connections in the 3rd quarter valued at approximately $103,000. Thompson Davis & CO. Inc. increased its position in Waste Connections by 55.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 559 shares during the period. Fieldpoint Private Securities LLC increased its position in Waste Connections by 50.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 702 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Waste Connections in the 3rd quarter valued at approximately $217,000. Finally, Macquarie Group Ltd. increased its position in Waste Connections by 644.4% in the 3rd quarter. Macquarie Group Ltd. now owns 3,350 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 2,900 shares during the period. 82.90% of the stock is currently owned by institutional investors and hedge funds.

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About Waste Connections

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.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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