Scotiabank Has Lowered Expectations for Waste Connections (NYSE:WCN) Stock Price

Waste Connections (NYSE:WCN) had its target price reduced by research analysts at Scotiabank from $210.00 to $204.00 in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s target price would suggest a potential upside of 19.93% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price target (up from $215.00) on shares of Waste Connections in a research note on Wednesday, December 17th. Stifel Nicolaus reduced their price objective on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Wells Fargo & Company began coverage on Waste Connections in a research report on Thursday, November 13th. They set an “overweight” rating and a $186.00 target price for the company. The Goldman Sachs Group began coverage on Waste Connections in a research note on Monday, November 24th. They set a “buy” rating and a $202.00 target price on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $205.00 price target (up from $200.00) on shares of Waste Connections in a report on Monday, January 5th. Five analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $206.74.

Waste Connections Stock Performance

NYSE WCN opened at $170.10 on Wednesday. The business’s 50 day moving average price is $172.60 and its 200-day moving average price is $176.40. Waste Connections has a fifty-two week low of $162.06 and a fifty-two week high of $201.66. The company has a market cap of $43.49 billion, a P/E ratio of 70.88, a P/E/G ratio of 3.01 and a beta of 0.63. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company earned $1.35 earnings per share. Waste Connections’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Waste Connections will post 5.28 earnings per share for the current year.

Insider Activity at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the completion of the sale, the director owned 14,883 shares of the company’s stock, valued at approximately $2,596,190.52. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Waste Connections during the 1st quarter valued at $577,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Waste Connections by 7.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,628 shares of the business services provider’s stock valued at $1,378,000 after buying an additional 559 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Waste Connections by 153.2% during the second quarter. Farther Finance Advisors LLC now owns 600 shares of the business services provider’s stock valued at $112,000 after buying an additional 363 shares during the period. Yarbrough Capital LLC bought a new stake in shares of Waste Connections in the second quarter valued at about $355,000. Finally, Ballentine Partners LLC lifted its stake in Waste Connections by 7.0% in the second quarter. Ballentine Partners LLC now owns 1,212 shares of the business services provider’s stock worth $226,000 after acquiring an additional 79 shares during the period. Institutional investors own 86.09% of the company’s stock.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.