Waste Connections (NYSE:WCN) Price Target Cut to $212.00 by Analysts at CIBC

Waste Connections (NYSE:WCN - Get Free Report) had its price target decreased by investment analysts at CIBC from $215.00 to $212.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperformer" rating on the business services provider's stock. CIBC's target price would indicate a potential upside of 17.04% from the company's current price.

A number of other brokerages have also recently commented on WCN. Royal Bank Of Canada reissued an "outperform" rating and issued a $221.00 price target on shares of Waste Connections in a research report on Friday, April 25th. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a research report on Monday, June 9th. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Truist Financial set a $220.00 price objective on Waste Connections in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Waste Connections has an average rating of "Buy" and an average price target of $212.29.

Waste Connections Trading Down 0.6%

NYSE:WCN traded down $1.07 during mid-day trading on Tuesday, reaching $181.14. 1,361,447 shares of the company's stock traded hands, compared to its average volume of 1,014,752. The company has a 50 day moving average price of $190.60 and a 200-day moving average price of $187.57. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $46.80 billion, a price-to-earnings ratio of 74.54, a PEG ratio of 3.16 and a beta of 0.60. 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 issued its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. Waste Connections had a return on equity of 15.74% and a net margin of 6.93%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the firm posted $1.04 EPS. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts predict that Waste Connections will post 5.28 earnings per share for the current year.

Institutional Investors Weigh In On Waste Connections

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Waste Connections by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock worth $5,901,049,000 after buying an additional 954,242 shares in the last quarter. Bank of Montreal Can increased its stake in Waste Connections by 4.3% in the 4th quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider's stock worth $1,481,041,000 after buying an additional 356,798 shares in the last quarter. FIL Ltd increased its stake in Waste Connections by 46.2% in the 4th quarter. FIL Ltd now owns 7,177,724 shares of the business services provider's stock worth $1,231,368,000 after buying an additional 2,269,652 shares in the last quarter. WCM Investment Management LLC increased its stake in Waste Connections by 0.3% in the 1st quarter. WCM Investment Management LLC now owns 6,383,780 shares of the business services provider's stock worth $1,230,984,000 after buying an additional 18,400 shares in the last quarter. Finally, Capital International Investors increased its stake in Waste Connections by 17.8% in the 4th quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock worth $1,020,672,000 after buying an additional 899,058 shares in the last quarter. Hedge funds and other 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.