Waste Connections (NYSE:WCN) Price Target Raised to $215.00

Key Points

• Waste Connections' price target has been raised to $215.00 by CIBC, indicating a potential upside of 14.76% from its current price.
• Analysts show positive sentiment with a consensus rating of "Buy" and a target price of $214.50, while various firms have issued differing price targets ranging from $211.00 to $220.00.
• Waste Connections' stock has seen a 0.5% decline, trading at $187.35, with a recent market cap of $48.41 billion.
• In its latest earnings report, Waste Connections exceeded analyst expectations with an EPS of $1.29 and revenue of $2.41 billion, marking a 7.1% increase year-over-year.

Waste Connections (NYSE:WCN - Get Free Report) had its price objective lifted by research analysts at CIBC from $212.00 to $215.00 in a research note issued to investors on Friday,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 14.76% from the company's current price.

A number of other analysts have also commented on the company. Truist Financial set a $220.00 target price on Waste Connections in a report on Friday, April 25th. BMO Capital Markets raised their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. William Blair assumed coverage on Waste Connections in a report on Thursday, April 3rd. They set an "outperform" rating for the company. Raymond James Financial cut their price target on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a report on Tuesday. Finally, Scotiabank boosted their price target on Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Connections currently has a consensus rating of "Buy" and a consensus target price of $214.50.

Waste Connections Stock Down 0.5%

WCN stock traded down $0.89 on Friday, reaching $187.35. 1,050,767 shares of the company traded hands, compared to its average volume of 1,136,159. The company has a market cap of $48.41 billion, a P/E ratio of 75.54, a price-to-earnings-growth ratio of 3.24 and a beta of 0.60. The firm has a fifty day simple moving average of $188.16 and a 200-day simple moving average of $188.46. Waste Connections has a one year low of $169.36 and a one year high of $201.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a return on equity of 15.87% and a net margin of 6.97%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Research analysts anticipate that Waste Connections will post 5.28 earnings per share for the current year.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds have recently made changes to their positions in WCN. Checchi Capital Advisers LLC raised its position in Waste Connections by 4.6% during the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after purchasing an additional 56 shares during the period. MWA Asset Management raised its position in Waste Connections by 1.2% during the first quarter. MWA Asset Management now owns 4,783 shares of the business services provider's stock valued at $934,000 after purchasing an additional 57 shares during the period. Tranquility Partners LLC raised its position in Waste Connections by 1.4% during the first quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock valued at $850,000 after purchasing an additional 58 shares during the period. MAI Capital Management raised its position in Waste Connections by 6.0% during the first quarter. MAI Capital Management now owns 1,116 shares of the business services provider's stock valued at $218,000 after purchasing an additional 63 shares during the period. Finally, Hexagon Capital Partners LLC raised its position in Waste Connections by 29.2% during the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after purchasing an additional 64 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

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