Waste Connections (NYSE:WCN) Raised to “Hold” at Eight Capital

Waste Connections (NYSE:WCN) was upgraded by analysts at Eight Capital to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

A number of other brokerages also recently issued reports on WCN. JPMorgan Chase & Co. raised their price target on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Raymond James lifted their price target on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. CIBC increased their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. Oppenheimer boosted their target price on Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Scotiabank assumed coverage on Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target on the stock. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and an average target price of $191.53.

Waste Connections Price Performance

WCN stock opened at $179.90 on Wednesday. Waste Connections has a 52 week low of $126.12 and a 52 week high of $187.54. The firm has a market capitalization of $46.42 billion, a P/E ratio of 53.86, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a fifty day simple moving average of $181.72 and a two-hundred day simple moving average of $174.24. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted $1.02 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. Analysts anticipate that Waste Connections will post 4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at $778,428.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the sale, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Waste Connections

Institutional investors and hedge funds have recently bought and sold shares of the business. American Trust boosted its stake in shares of Waste Connections by 3.7% in the second quarter. American Trust now owns 1,573 shares of the business services provider’s stock worth $276,000 after buying an additional 56 shares during the last quarter. First Affirmative Financial Network lifted its holdings in Waste Connections by 3.9% in the first quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 69 shares during the period. GAMMA Investing LLC boosted its position in Waste Connections by 15.0% in the 3rd quarter. GAMMA Investing LLC now owns 529 shares of the business services provider’s stock worth $95,000 after purchasing an additional 69 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Waste Connections by 8.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock worth $161,000 after purchasing an additional 74 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Waste Connections by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock valued at $1,047,000 after purchasing an additional 82 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.