Waste Connections (NYSE:WCN) Stock Rating Lowered by StockNews.com

Waste Connections (NYSE:WCN - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Wednesday.

A number of other brokerages have also recently issued reports on WCN. Wells Fargo & Company raised their price objective on shares of Waste Connections from $170.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, February 15th. Stifel Nicolaus increased their price objective on shares of Waste Connections from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Royal Bank of Canada reduced their target price on shares of Waste Connections from $196.00 to $195.00 and set an "outperform" rating for the company in a research note on Friday, April 26th. BMO Capital Markets lifted their price target on Waste Connections from $182.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. Finally, Oppenheimer upped their price objective on Waste Connections from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Monday, March 18th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $179.33.

Waste Connections Trading Down 0.0 %

Shares of NYSE WCN traded down $0.01 during midday trading on Wednesday, hitting $162.08. The stock had a trading volume of 1,225,505 shares, compared to its average volume of 921,099. The firm has a market cap of $41.82 billion, a P/E ratio of 52.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66. Waste Connections has a fifty-two week low of $126.12 and a fifty-two week high of $173.02. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75. The company's 50-day simple moving average is $167.95 and its 200 day simple moving average is $152.72.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.89 earnings per share. The company's revenue was up 9.1% on a year-over-year basis. Research analysts anticipate that Waste Connections will post 4.84 EPS for the current year.

Insider Buying and Selling

In other news, Director Andrea E. Bertone sold 902 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total value of $152,591.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Waste Connections

Large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in Waste Connections by 3.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,254 shares of the business services provider's stock valued at $3,526,000 after acquiring an additional 856 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Waste Connections by 1.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 8,771 shares of the business services provider's stock worth $1,178,000 after purchasing an additional 87 shares during the last quarter. Dakota Wealth Management boosted its stake in Waste Connections by 14.1% in the 3rd quarter. Dakota Wealth Management now owns 3,847 shares of the business services provider's stock valued at $519,000 after purchasing an additional 474 shares during the period. Raymond James & Associates grew its holdings in Waste Connections by 8.5% in the 3rd quarter. Raymond James & Associates now owns 403,972 shares of the business services provider's stock valued at $54,253,000 after buying an additional 31,709 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Waste Connections by 5.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 85,032 shares of the business services provider's stock worth $11,420,000 after buying an additional 4,509 shares during the period. 86.09% of the stock is owned by institutional investors.

About Waste Connections

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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