Bank of America began coverage on shares of Waste Connections (NYSE:WCN) in a report released on Friday. The brokerage 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 12.74% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Royal Bank of Canada upped their target price on Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 target price on shares of Waste Connections in a research report on Tuesday, August 29th. Credit Suisse Group set a $82.00 target price on Waste Connections and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. TD Securities upped their target price on Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $78.14.
Waste Connections (NYSE WCN) opened at $70.96 on Friday. Waste Connections has a 12 month low of $52.18 and a 12 month high of $74.20. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $18,597.24, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 4.20 and a beta of 0.17.
In related news, Director Robert Davis sold 700 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $71.72, for a total transaction of $50,204.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Large investors have recently made changes to their positions in the business. Achmea Investment Management B.V. grew its stake in Waste Connections by 50.0% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,653 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 3,551 shares during the period. Swiss National Bank grew its stake in Waste Connections by 54.7% in the 2nd quarter. Swiss National Bank now owns 961,659 shares of the business services provider’s stock valued at $61,950,000 after purchasing an additional 340,053 shares during the period. Twin Tree Management LP bought a new position in Waste Connections in the 2nd quarter valued at $1,195,000. Dorsey Wright & Associates grew its stake in Waste Connections by 52.5% in the 2nd quarter. Dorsey Wright & Associates now owns 68,993 shares of the business services provider’s stock valued at $4,445,000 after purchasing an additional 23,754 shares during the period. Finally, Symphony Asset Management LLC grew its stake in Waste Connections by 133.5% in the 2nd quarter. Symphony Asset Management LLC now owns 43,570 shares of the business services provider’s stock valued at $2,807,000 after purchasing an additional 24,907 shares during the period. Hedge funds and other institutional investors own 82.90% of the company’s stock.
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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.
