Barclays Raises Waste Connections (NYSE:WCN) Price Target to $187.00

Waste Connections (NYSE:WCN) had its price target increased by investment analysts at Barclays from $180.00 to $187.00 in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s target price would indicate a potential upside of 10.24% from the company’s previous close.

WCN has been the topic of several other reports. BMO Capital Markets restated an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th. TD Cowen reiterated a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday. Royal Bank Of Canada reissued an “outperform” rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, Citigroup upped their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.42.

Waste Connections Trading Up 0.0%

Waste Connections stock opened at $169.63 on Tuesday. The firm has a 50 day moving average of $161.57 and a 200 day moving average of $163.18. The firm has a market capitalization of $42.80 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 2.91 and a beta of 0.49. Waste Connections has a 12-month low of $146.89 and a 12-month high of $191.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the business earned $1.29 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Waste Connections will post 5.6 earnings per share for the current year.

Insider Activity at Waste Connections

In related news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eric Hansen sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the transaction, the senior vice president owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. The trade was a 31.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 15,000 shares of company stock valued at $2,395,755. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds have recently made changes to their positions in the company. City Holding Co. bought a new position in Waste Connections during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in Waste Connections in the 3rd quarter worth approximately $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after acquiring an additional 175 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Waste Connections during the 4th quarter valued at approximately $36,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Company Profile

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.