Scotiabank Cuts Waste Connections (NYSE:WCN) Price Target to $204.00

Waste Connections (NYSE:WCN) had its target price dropped by stock analysts at Scotiabank from $210.00 to $204.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price objective indicates a potential upside of 22.66% from the company’s current price.

Several other equities analysts have also recently weighed in on WCN. Wells Fargo & Company assumed coverage on Waste Connections in a research report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price objective for the company. BNP Paribas Exane began coverage on shares of Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Barclays reissued a “negative” rating on shares of Waste Connections in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $206.74.

Waste Connections Stock Up 1.3%

Shares of WCN traded up $2.06 during mid-day trading on Wednesday, reaching $166.31. The company’s stock had a trading volume of 51,737 shares, compared to its average volume of 1,753,851. The company has a market cap of $42.52 billion, a price-to-earnings ratio of 69.32, a price-to-earnings-growth ratio of 3.02 and a beta of 0.63. The business has a fifty day moving average of $172.60 and a 200 day moving average of $176.51. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections has a 1 year low of $162.06 and a 1 year high of $201.66.

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

Insider Activity at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the sale, the director directly owned 14,883 shares in the company, valued at $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Waste Connections

A number of large investors have recently added to or reduced their stakes in WCN. Measured Wealth Private Client Group LLC bought a new stake in Waste Connections during the third quarter worth $26,000. Asset Dedication LLC acquired a new stake in shares of Waste Connections during the second quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Waste Connections in the third quarter valued at about $30,000. Greykasell Wealth Strategies Inc. grew its stake in shares of Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in Waste Connections in the 2nd quarter worth about $39,000. 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.