Waste Connections (NYSE:WCN) Price Target Raised to $206.00 at Oppenheimer

Key Points

• Oppenheimer has raised its price target for Waste Connections from $205 to $206, indicating a potential upside of 15.03% from its current price, and maintains an "outperform" rating.
• Analysts show a largely positive sentiment towards Waste Connections, with five having given it a "Strong Buy" rating and an overall average rating of "Buy" among analysts.
• In its recent earnings report, Waste Connections reported $1.44 EPS, exceeding the consensus estimate, along with a revenue of $2.47 billion, marking a 5.1% year-over-year increase.

Waste Connections (NYSE:WCN - Get Free Report) had its price objective increased by stock analysts at Oppenheimer from $205.00 to $206.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the business services provider's stock. Oppenheimer's price objective suggests a potential upside of 15.03% from the company's current price.

A number of other equities analysts also recently issued reports on the company. CIBC reiterated an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. UBS Group set a $195.00 target price on Waste Connections in a research note on Thursday. Atb Cap Markets upgraded Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Barclays restated a "negative" rating on shares of Waste Connections in a research note on Thursday. Finally, Citigroup lowered their price target on shares of Waste Connections from $199.00 to $196.00 and set a "neutral" rating on the stock in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Waste Connections currently has an average rating of "Buy" and a consensus price target of $210.69.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $179.09 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $177.27 and a two-hundred day moving average price of $185.54. Waste Connections has a 1-year low of $169.36 and a 1-year high of $201.66. The company has a market cap of $45.95 billion, a P/E ratio of 74.46, a PEG ratio of 3.16 and a beta of 0.62.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.38 by $0.06. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. Waste Connections had a return on equity of 16.08% and a net margin of 6.65%.The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.35 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Connections will post 5.28 EPS for the current year.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds and other institutional investors have recently bought and sold shares of WCN. Asset Dedication LLC bought a new position in shares of Waste Connections in the second quarter worth $28,000. Ramirez Asset Management Inc. increased its holdings in shares of Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after purchasing an additional 100 shares during the period. Larson Financial Group LLC increased its holdings in shares of Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after purchasing an additional 179 shares during the period. AlphaCore Capital LLC bought a new position in shares of Waste Connections in the second quarter worth $39,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares during the period. Institutional investors own 86.09% of the company's stock.

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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