Barclays Forecasts Strong Price Appreciation for Waste Connections (NYSE:WCN) Stock

Key Points

• Barclays has raised its price target for Waste Connections from $192.00 to $194.00, indicating a potential upside of 8.78% from the stock's previous close, while maintaining an "equal weight" rating.
• Several analysts have expressed positive sentiment toward Waste Connections, with five firms rating it as a Strong Buy, and an average price target consensus of $210.63.
• Waste Connections recently reported earnings of $1.44 per share, surpassing expectations, and noted a revenue increase of 5.1% year-over-year, totaling $2.47 billion for the quarter.

Waste Connections (NYSE:WCN - Get Free Report) had its price objective lifted by Barclays from $192.00 to $194.00 in a research report issued on Thursday, MarketBeat reports. The firm presently has an "equal weight" rating on the business services provider's stock. Barclays's price objective points to a potential upside of 8.78% from the stock's previous close.

A number of other analysts also recently weighed in on WCN. Stifel Nicolaus began coverage on shares of Waste Connections in a research report on Tuesday, September 30th. They issued a "buy" rating and a $221.00 price target on the stock. CIBC reiterated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Oppenheimer reduced their price target on shares of Waste Connections from $210.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 8th. Royal Bank Of Canada lowered their price objective on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Finally, National Bankshares dropped their price objective on Waste Connections from $211.00 to $196.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 7th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Waste Connections has an average rating of "Buy" and a consensus price target of $210.63.

Waste Connections Stock Up 2.6%

Shares of Waste Connections stock opened at $178.35 on Thursday. The business has a fifty day simple moving average of $177.27 and a 200 day simple moving average of $185.54. The stock has a market cap of $45.76 billion, a PE ratio of 74.31, a price-to-earnings-growth ratio of 3.16 and a beta of 0.62. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections has a 12 month low of $169.36 and a 12 month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.06. Waste Connections had a return on equity of 16.08% and a net margin of 6.65%.The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Research analysts predict that Waste Connections will post 5.28 EPS for the current year.

Hedge Funds Weigh In On Waste Connections

Large investors have recently added to or reduced their stakes in the company. Calamos Wealth Management LLC bought a new position in shares of Waste Connections during the second quarter worth about $2,055,000. Cidel Asset Management Inc. boosted its position in Waste Connections by 3.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 136,991 shares of the business services provider's stock worth $25,539,000 after acquiring an additional 4,340 shares during the last quarter. DAVENPORT & Co LLC grew its stake in shares of Waste Connections by 37.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider's stock worth $350,000 after acquiring an additional 488 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Waste Connections by 89.5% in the first quarter. Private Trust Co. NA now owns 288 shares of the business services provider's stock valued at $56,000 after purchasing an additional 136 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $63,385,000. 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.

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