Truist Financial Reaffirms “Buy” Rating for Waste Connections (NYSE:WCN)

Waste Connections (NYSE:WCN)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a research note issued to investors on Friday,Benzinga reports. They currently have a $210.00 price objective on the business services provider’s stock, up from their prior price objective of $200.00. Truist Financial’s price target indicates a potential upside of 9.80% from the stock’s previous close.

Several other equities research analysts have also commented on WCN. Morgan Stanley raised their price target on shares of Waste Connections from $214.00 to $219.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets dropped their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Citigroup increased their price objective on shares of Waste Connections from $195.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, Raymond James decreased their price objective on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Waste Connections Stock Up 1.3 %

Shares of WCN stock traded up $2.40 during trading hours on Friday, hitting $191.25. 470,063 shares of the company were exchanged, compared to its average volume of 960,597. The stock has a market capitalization of $49.36 billion, a price-to-earnings ratio of 52.50, a P/E/G ratio of 2.97 and a beta of 0.77. Waste Connections has a one year low of $160.34 and a one year high of $194.83. The business’s 50-day simple moving average is $179.39 and its two-hundred day simple moving average is $181.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. Sell-side analysts predict that Waste Connections will post 4.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Private Trust Co. NA raised its holdings in shares of Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 92 shares in the last quarter. Manchester Capital Management LLC bought a new position in Waste Connections in the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in Waste Connections in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in Waste Connections in the 4th quarter worth $28,000. Finally, Smartleaf Asset Management LLC raised its holdings in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 71 shares during the period. Institutional investors own 86.09% of the company’s stock.

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.