Waste Connections’ (WCN) Buy Rating Reiterated at BMO Capital Markets

Waste Connections (NYSE:WCN)‘s stock had its “buy” rating reiterated by analysts at BMO Capital Markets in a research report issued on Thursday. They presently have a $80.00 price target on the business services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 9.97% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS started coverage on Waste Connections in a report on Thursday, March 15th. They issued a “buy” rating and a $91.00 price target for the company. Bank of America started coverage on Waste Connections in a report on Thursday, December 28th. They issued a “buy” rating and a $80.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price target on shares of Waste Connections in a report on Thursday, January 4th. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Monday, February 19th. Finally, Credit Suisse Group set a $80.00 price target on Waste Connections and gave the stock a “buy” rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $79.28.

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Shares of WCN stock opened at $72.75 on Thursday. The stock has a market capitalization of $18,957.56, a PE ratio of 33.68, a P/E/G ratio of 2.64 and a beta of 0.18. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. Waste Connections has a 52-week low of $58.33 and a 52-week high of $74.59.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. equities research analysts expect that Waste Connections will post 2.53 earnings per share for the current fiscal year.

In other Waste Connections news, CEO Ronald J. Mittelstaedt sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $73.32, for a total transaction of $3,299,400.00. Following the completion of the sale, the chief executive officer now directly owns 100,462 shares in the company, valued at approximately $7,365,873.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Little sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $70.49, for a total value of $352,450.00. Following the sale, the insider now owns 25,709 shares of the company’s stock, valued at $1,812,227.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,571 shares of company stock valued at $4,911,600. 0.68% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB increased its stake in Waste Connections by 6.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 45,901 shares of the business services provider’s stock worth $3,256,000 after buying an additional 2,669 shares in the last quarter. BB&T Investment Services Inc. grew its position in shares of Waste Connections by 29.6% in the fourth quarter. BB&T Investment Services Inc. now owns 4,611 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 1,052 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Waste Connections in the fourth quarter valued at approximately $515,000. Millennium Management LLC grew its position in shares of Waste Connections by 553.0% in the fourth quarter. Millennium Management LLC now owns 712,538 shares of the business services provider’s stock valued at $50,547,000 after purchasing an additional 603,416 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Waste Connections by 297.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,550 shares of the business services provider’s stock valued at $1,245,000 after purchasing an additional 13,133 shares in the last quarter. Institutional investors own 84.21% of the company’s stock.

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About Waste Connections

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.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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