Waste Connections (TSE:WCN) Raised to "Strong-Buy" at Scotiabank

Key Points

• Waste Connections has been upgraded by Scotiabank from a "hold" rating to a "strong-buy" rating, reflecting increased analyst confidence in the stock.
• The company currently holds an average rating of "Strong Buy" among six equities research analysts, with an average price target of C$260.00.
• In recent insider activity, Patrick J. Shea sold 5,000 shares of Waste Connections, decreasing their ownership in the company by nearly 19.5%.

Waste Connections (TSE:WCN - Get Free Report) was upgraded by investment analysts at Scotiabank from a "hold" rating to a "strong-buy" rating in a report issued on Friday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Barclays raised shares of Waste Connections to a "hold" rating in a report on Friday, September 19th. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Six equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of C$260.00.

Waste Connections Stock Performance

Shares of TSE WCN opened at C$241.95 on Friday. The company's fifty day moving average price is C$248.60 and its 200 day moving average price is C$258.30. Waste Connections has a 1 year low of C$236.00 and a 1 year high of C$284.73. The company has a market capitalization of C$62.29 billion, a PE ratio of 97.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.39. The company has a debt-to-equity ratio of 102.69, a quick ratio of 0.74 and a current ratio of 0.77.

Insider Activity at Waste Connections

In other news, insider Patrick J. Shea sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of C$258.01, for a total value of C$1,290,045.00. Following the completion of the sale, the insider directly owned 20,671 shares in the company, valued at C$5,333,304.04. This represents a 19.48% decrease in their ownership of the stock. 0.21% of the stock is owned by company insiders.

Waste Connections Company Profile

Waste Connections is the third- largest integrated provider of traditional solid waste and recycling services in the North America, operating 91 active landfills (12 are E&P waste landfills), 132 transfer stations, and 68 recycling operations. The firm serves residential, commercial, industrial, and energy end markets.

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