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.
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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