CIBC Raises Waste Connections (NYSE:WCN) Price Target to $215.00

Waste Connections (NYSE:WCN) had its price target lifted by analysts at CIBC from $199.00 to $215.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperformer” rating on the business services provider’s stock. CIBC’s price objective indicates a potential upside of 12.57% from the stock’s previous close.

A number of other equities analysts have also issued reports on WCN. Oppenheimer upped their target price on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, October 25th. Scotiabank began coverage on shares of Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Raymond James cut their price objective on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Finally, Eight Capital upgraded shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $198.40.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $190.99 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $49.29 billion, a price-to-earnings ratio of 52.47, a P/E/G ratio of 3.20 and a beta of 0.74. Waste Connections has a 1-year low of $137.25 and a 1-year high of $194.83. The firm’s 50-day moving average price is $182.97 and its two-hundred day moving average price is $179.10.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. On average, equities analysts predict that Waste Connections will post 4.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC bought a new position in shares of Waste Connections in the 3rd quarter valued at about $36,000. FSA Wealth Management LLC bought a new position in shares of Waste Connections in the 3rd quarter valued at about $40,000. Asset Dedication LLC bought a new position in shares of Waste Connections in the 3rd quarter valued at about $41,000. Continuum Advisory LLC grew its position in shares of Waste Connections by 58.0% in the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 83 shares during the period. Finally, Signature Resources Capital Management LLC bought a new position in shares of Waste Connections in the 2nd quarter valued at about $45,000. 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.