Waste Connections (WCN) Given a $87.00 Price Target at Oppenheimer

Waste Connections (NYSE:WCN) has been assigned a $87.00 price target by Oppenheimer in a report released on Wednesday. The firm currently has a “buy” rating on the business services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 14.91% from the company’s previous close.

A number of other research analysts have also weighed in on WCN. Zacks Investment Research lowered Waste Connections from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Citigroup increased their price target on Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Royal Bank of Canada increased their price target on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Finally, TD Securities increased their price target on Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $84.40.

Shares of Waste Connections stock opened at $75.71 on Wednesday. Waste Connections has a fifty-two week low of $65.06 and a fifty-two week high of $81.36. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.57 and a beta of 0.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.15 and a current ratio of 1.15.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Monday, October 29th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts expect that Waste Connections will post 2.5 earnings per share for the current fiscal year.

In related news, Director Michael W. Harlan sold 11,900 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $79.30, for a total value of $943,670.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Darrell W. Chambliss sold 6,485 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $80.00, for a total value of $518,800.00. The disclosure for this sale can be found here. Insiders sold a total of 38,385 shares of company stock worth $3,063,670 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of WCN. Toronto Dominion Bank raised its position in shares of Waste Connections by 115.0% in the 2nd quarter. Toronto Dominion Bank now owns 1,126,901 shares of the business services provider’s stock worth $85,916,000 after buying an additional 602,814 shares during the period. Unigestion Holding SA purchased a new position in shares of Waste Connections in the 2nd quarter worth $35,412,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Waste Connections by 20.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,046,843 shares of the business services provider’s stock worth $154,091,000 after buying an additional 349,520 shares during the period. Rathbone Brothers plc increased its holdings in Waste Connections by 2,919.2% in the 2nd quarter. Rathbone Brothers plc now owns 358,887 shares of the business services provider’s stock valued at $27,017,000 after purchasing an additional 347,000 shares in the last quarter. Finally, Addenda Capital Inc. increased its holdings in Waste Connections by 96.9% in the 2nd quarter. Addenda Capital Inc. now owns 545,878 shares of the business services provider’s stock valued at $40,106,000 after purchasing an additional 268,602 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Analyst Recommendations for Waste Connections (NYSE:WCN)

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