Waste Connections (NYSE:WCN) Given New $212.00 Price Target at CIBC

Waste Connections (NYSE:WCN - Get Free Report) had its price objective cut by equities research analysts at CIBC from $215.00 to $212.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "outperformer" rating on the business services provider's stock. CIBC's price objective indicates a potential upside of 15.51% from the stock's current price.

WCN has been the subject of several other reports. Truist Financial set a $220.00 price objective on shares of Waste Connections in a research report on Friday, April 25th. Scotiabank raised their price objective on shares of Waste Connections from $192.00 to $207.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 8th. William Blair started coverage on shares of Waste Connections in a research report on Thursday, April 3rd. They set an "outperform" rating for the company. Seaport Res Ptn raised shares of Waste Connections to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $213.93.

Waste Connections Stock Performance

NYSE:WCN traded up $1.52 during mid-day trading on Tuesday, hitting $183.53. The stock had a trading volume of 759,661 shares, compared to its average volume of 1,018,575. Waste Connections has a twelve month low of $169.36 and a twelve month high of $201.66. The stock has a market cap of $47.42 billion, a price-to-earnings ratio of 75.55, a PEG ratio of 3.17 and a beta of 0.60. The company's 50 day simple moving average is $190.01 and its 200 day simple moving average is $187.61. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.70 and a current ratio of 0.70.

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

Hedge Funds Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently bought and sold shares of WCN. Smartleaf Asset Management LLC lifted its holdings in Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after buying an additional 71 shares during the period. Jones Financial Companies Lllp lifted its holdings in Waste Connections by 60.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,438 shares of the business services provider's stock valued at $418,000 after buying an additional 917 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Waste Connections by 30.8% in 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 buying an additional 829 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Waste Connections during the fourth quarter valued at about $387,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Waste Connections by 12.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 87,720 shares of the business services provider's stock valued at $15,051,000 after purchasing an additional 9,374 shares during the period. Institutional investors and hedge funds 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.