Waste Connections (TSE:WCN) Stock Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Waste Connections (TSE:WCN) slipped below its 50-day moving average of C$253.47, trading as low as C$241.86, indicating potential volatility in its stock performance.
• Several brokerages have upgraded Waste Connections to a "strong-buy" rating, with a consensus target price set at C$265.00, highlighting optimism among analysts.
• Insider Patrick J. Shea sold 5,000 shares at an average price of C$258.01, reducing his stake by 19.48%, which may reflect sentiment regarding future stock performance.

Waste Connections, Inc. (TSE:WCN - Get Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$253.47 and traded as low as C$241.86. Waste Connections shares last traded at C$243.84, with a volume of 331,627 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Finally, Melius Research raised Waste Connections to a "strong-buy" rating in a research note on Monday, June 9th. Five equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$265.00.

Waste Connections Trading Up 1.1%

The stock has a market capitalization of C$62.11 billion, a PE ratio of 97.41, a P/E/G ratio of 2.22 and a beta of 0.40. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 102.69. The firm has a 50 day moving average price of C$252.94 and a 200 day moving average price of C$261.69.

Insider Transactions at Waste Connections

In other Waste Connections news, insider Patrick J. Shea sold 5,000 shares of Waste Connections stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of C$258.01, for a total transaction of C$1,290,045.00. Following the transaction, the insider directly owned 20,671 shares of the company's stock, valued at C$5,333,304.04. The trade was a 19.48% decrease in their position. 0.21% of the stock is owned by corporate 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.