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

Waste Connections (NYSE:WCN - Get Free Report) had its price objective hoisted by equities research analysts at Oppenheimer from $216.00 to $218.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Oppenheimer's price target suggests a potential upside of 19.47% from the stock's previous close.

Several other analysts also recently issued reports on the company. Seaport Res Ptn raised Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Truist Financial set a $220.00 target price on Waste Connections in a research report on Friday, April 25th. William Blair initiated coverage on Waste Connections in a research note on Thursday, April 3rd. They issued an "outperform" rating on the stock. BMO Capital Markets upped their price target on shares of Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, CIBC cut their price objective on shares of Waste Connections from $215.00 to $212.00 and set an "outperformer" rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $213.93.

Waste Connections Stock Performance

Waste Connections stock traded up $0.40 during mid-day trading on Wednesday, reaching $182.47. The company's stock had a trading volume of 546,237 shares, compared to its average volume of 1,111,980. The firm has a market cap of $47.15 billion, a price-to-earnings ratio of 75.02, a PEG ratio of 3.14 and a beta of 0.60. The business has a 50 day moving average price of $190.29 and a 200-day moving average price of $187.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.05. Waste Connections has a twelve month low of $169.36 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $1.04 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. Sell-side analysts predict that Waste Connections will post 5.28 EPS for the current fiscal year.

Institutional Trading of Waste Connections

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCN. Smartleaf Asset Management LLC lifted its position in shares of Waste Connections by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Waste Connections by 60.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,438 shares of the business services provider's stock valued at $418,000 after purchasing an additional 917 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Waste Connections by 30.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,521 shares of the business services provider's stock valued at $604,000 after purchasing an additional 829 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Waste Connections in the 4th quarter valued at $387,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Waste Connections in the 4th quarter worth about $247,000. 86.09% of the stock is owned by institutional investors and hedge funds.

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.