Waste Connections (NYSE:WCN) Given New $132.00 Price Target at Raymond James


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Waste Connections (NYSE:WCN) had its price objective boosted by investment analysts at Raymond James from $120.00 to $132.00 in a research note issued on Monday, PriceTargets.com reports. The brokerage presently has a “strong-buy” rating on the business services provider’s stock. Raymond James’ price target suggests a potential upside of 14.98% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Waste Connections from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 6th. The Goldman Sachs Group started coverage on shares of Waste Connections in a report on Wednesday, April 7th. They set a “buy” rating and a $124.00 price target on the stock. Royal Bank of Canada cut their price target on shares of Waste Connections from $116.00 to $113.00 and set an “outperform” rating on the stock in a report on Thursday, February 25th. Finally, BMO Capital Markets boosted their price target on shares of Waste Connections from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Waste Connections has a consensus rating of “Buy” and an average target price of $115.50.

Shares of NYSE WCN opened at $114.80 on Monday. The stock has a market capitalization of $30.13 billion, a P/E ratio of 147.18, a P/E/G ratio of 4.95 and a beta of 0.44. The company has a 50-day moving average price of $104.72 and a 200-day moving average price of $103.07. Waste Connections has a 1 year low of $82.57 and a 1 year high of $115.42. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 1.45.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, February 16th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Waste Connections had a net margin of 3.83% and a return on equity of 10.44%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.34 billion. As a group, equities research analysts anticipate that Waste Connections will post 2.5 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Hoover Financial Advisors Inc. bought a new stake in Waste Connections in the fourth quarter worth about $28,000. Whittier Trust Co. raised its position in shares of Waste Connections by 225.0% in the fourth quarter. Whittier Trust Co. now owns 325 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 225 shares during the period. Capital Asset Advisory Services LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at approximately $51,000. Truvestments Capital LLC raised its position in shares of Waste Connections by 30.8% in the fourth quarter. Truvestments Capital LLC now owns 693 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 163 shares during the period. Finally, Merrion Investment Management Co LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at approximately $103,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through five segments: Southern, Western, Eastern, Canada, Central, and Corporate. It offers collection services to residential, commercial, municipal, industrial, and 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.

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