Waste Management (NYSE:WM) Upgraded by Canadian Imperial Bank of Commerce to “Outperformer” Rating

Waste Management (NYSE:WM) was upgraded by Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperformer” rating in a research note issued on Tuesday,Benzinga reports. The firm currently has a $244.00 price target on the business services provider’s stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 6.55% from the company’s current price.

WM has been the topic of a number of other research reports. Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. TD Cowen increased their target price on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Barclays upped their price objective on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.95.

Waste Management Stock Performance

Shares of WM opened at $228.99 on Tuesday. Waste Management has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market cap of $91.96 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.44. The stock has a 50-day moving average price of $220.41 and a 200-day moving average price of $225.46.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. Waste Management’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 earnings per share. As a group, equities analysts forecast that Waste Management will post 8.15 earnings per share for the current fiscal year.

Institutional Trading of Waste Management

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Elevated Capital Advisors LLC bought a new position in shares of Waste Management in the fourth quarter worth approximately $25,000. RHL Group LLC bought a new stake in Waste Management during the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC boosted its position in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in Waste Management in the 4th quarter worth $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Waste Management in the third quarter valued at about $30,000. Institutional investors own 80.40% of the company’s stock.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.