Oppenheimer Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price target hoisted by research analysts at Oppenheimer from $262.00 to $263.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would indicate a potential upside of 19.64% from the company’s current price.

WM has been the subject of a number of other reports. DZ Bank initiated coverage on Waste Management in a report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price objective for the company. Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and upped their target price for the company from $238.00 to $242.00 in a report on Tuesday, November 4th. National Bankshares dropped their price target on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Finally, CIBC reduced their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $248.95.

Waste Management Stock Up 0.4%

Shares of NYSE WM opened at $219.83 on Tuesday. The company has a 50 day simple moving average of $211.30 and a 200 day simple moving average of $221.43. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. Waste Management has a 1 year low of $194.11 and a 1 year high of $242.58. The firm has a market cap of $88.56 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.96 earnings per share. On average, research analysts forecast that Waste Management will post 7.7 EPS for the current year.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of hedge funds have recently added to or reduced their stakes in WM. Hudson Bay Capital Management LP lifted its holdings in shares of Waste Management by 83.5% in the third quarter. Hudson Bay Capital Management LP now owns 8,120 shares of the business services provider’s stock valued at $1,793,000 after purchasing an additional 3,696 shares in the last quarter. Severin Investments LLC raised its position in Waste Management by 6.1% in the 3rd quarter. Severin Investments LLC now owns 1,907 shares of the business services provider’s stock valued at $421,000 after buying an additional 109 shares during the last quarter. Allworth Financial LP lifted its stake in Waste Management by 3.9% during the 3rd quarter. Allworth Financial LP now owns 21,746 shares of the business services provider’s stock valued at $4,802,000 after acquiring an additional 814 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Waste Management by 2.6% in the 3rd quarter. IFP Advisors Inc now owns 10,080 shares of the business services provider’s stock worth $2,388,000 after acquiring an additional 252 shares in the last quarter. Finally, Stillwater Wealth Management Group purchased a new stake in shares of Waste Management in the third quarter valued at about $3,693,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.