Waste Connections (TSE:WCN) Shares Climb 8.7% - What's Next?

Key Points

• Waste Connections shares surged 8.7% to C$257.08 during Thursday trading, with volume 12% above the average session level.
• UBS upgraded the stock from “hold” to “buy,” while analysts maintain a consensus “Strong Buy” rating; the reported average price target is C$200, below the current share price.
• The company has a C$65.27 billion market capitalization and provides waste collection, disposal, recycling, renewable-fuels, and oilfield-waste services to roughly nine million customers across the U.S. and Canada.

Waste Connections, Inc. (TSE:WCN - Get Free Report) shares shot up 8.7% during mid-day trading on Thursday. The stock traded as high as C$257.65 and last traded at C$257.08. 417,297 shares were traded during trading, an increase of 12% from the average session volume of 373,105 shares. The stock had previously closed at C$236.45.

Analyst Upgrades and Downgrades

Separately, UBS Group raised shares of Waste Connections from a "hold" rating to a "buy" rating and set a C$200.00 price target on the stock in a report on Friday, September 18th. Five research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of C$200.00.

Waste Connections Stock Performance

The firm has a market capitalization of C$65.27 billion, a PE ratio of 62.55, a price-to-earnings-growth ratio of 2.22 and a beta of 0.47. The company has a current ratio of 0.66, a quick ratio of 0.74 and a debt-to-equity ratio of 121.68. The business's 50 day simple moving average is C$225.35 and its two-hundred day simple moving average is C$225.25.

Insider Buying and Selling

In other Waste Connections news, insider Robert Andres Nielsen sold 300 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of C$242.93, for a total transaction of C$72,879.00. Following the completion of the sale, the insider directly owned 3,950 shares of the company's stock, valued at approximately C$959,573.50. This represents a 7.06% decrease in their ownership of the stock. Corporate insiders own 0.21% of the company's stock.

About Waste Connections

Waste Connections ( wasteconnections.com ) is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, including by rail, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves approximately nine million residential, commercial and industrial customers in mostly exclusive and secondary markets across 46 states in the U.S. and six provinces in Canada. Waste Connections also provides non-hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S.

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