Waste Connections (TSE:WCN) Stock Passes Below 50 Day Moving Average - Time to Sell?

Key Points

• Waste Connections' stock price has dipped below its 50-day moving average of C$253.85, trading as low as C$249.31.
• The company received upgrades from multiple analysts, with five giving it a "strong-buy" rating and a consensus price target of C$265.00.
• Waste Connections has a market cap of C$64.45 billion, a P/E ratio of 101.08, and operates numerous waste management facilities across North America.

Waste Connections, Inc. (TSE:WCN - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$253.85 and traded as low as C$249.31. Waste Connections shares last traded at C$250.67, with a volume of 244,852 shares.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of research reports. Melius Research upgraded Waste Connections to a "strong-buy" rating in a report on Monday, June 9th. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Finally, Atb Cap Markets upgraded Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of C$265.00.

Waste Connections Stock Down 0.7%

The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 102.69. The stock has a market capitalization of C$62.84 billion, a P/E ratio of 98.56, a P/E/G ratio of 2.22 and a beta of 0.40. The stock's 50 day simple moving average is C$253.40 and its 200 day simple moving average is C$262.79.

Insider Buying and Selling

In other Waste Connections news, insider Patrick J. Shea sold 5,000 shares of the 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 in the company, valued at C$5,333,304.04. This represents a 19.48% decrease in their position. 0.21% of the stock is owned by company insiders.

About Waste Connections

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.