Waste Connections (NYSE:WCN) Given New $195.00 Price Target at Citigroup

Waste Connections (NYSE:WCN) had its target price raised by research analysts at Citigroup from $190.00 to $195.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm presently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price indicates a potential upside of 10.53% from the company’s current price.

A number of other brokerages also recently issued reports on WCN. BMO Capital Markets raised their price objective on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Raymond James raised their price objective on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research note on Monday, July 22nd. Oppenheimer lifted 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. CIBC boosted their price objective on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. Finally, Truist Financial boosted their target price on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Five investment 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.53.

Waste Connections Stock Down 0.9 %

WCN stock opened at $176.42 on Thursday. The stock has a market capitalization of $45.52 billion, a price-to-earnings ratio of 57.28, a PEG ratio of 2.88 and a beta of 0.72. Waste Connections has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. The business’s fifty day moving average price is $181.56 and its two-hundred day moving average price is $174.05.

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

Insider Transactions at Waste Connections

In related news, SVP Susan Netherton sold 2,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the sale, the senior vice president now directly owns 10,078 shares in the company, valued at $1,805,272.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Susan Netherton sold 2,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the sale, the senior vice president now directly owns 10,078 shares in the company, valued at approximately $1,805,272.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred 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 in the company, valued at approximately $778,428.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,600 shares of company stock worth $3,842,550. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its holdings in shares of Waste Connections by 116.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Waste Connections in the first quarter valued at about $32,000. Pathway Financial Advisers LLC purchased a new position in shares of Waste Connections in the first quarter valued at about $43,000. Signature Resources Capital Management LLC purchased a new stake in shares of Waste Connections in the second quarter worth about $45,000. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Waste Connections by 3,885.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after buying an additional 272 shares in the last quarter. Hedge funds and other 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.