Waste Connections’ (WCN) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Waste Connections (NYSE:WCN) in a research note published on Thursday morning. The brokerage currently has a $85.00 target price on the business services provider’s stock.

A number of other brokerages have also commented on WCN. Oppenheimer increased their price target on Waste Connections from $74.00 to $78.00 and gave the company an outperform rating in a research note on Friday, October 27th. Royal Bank of Canada raised their price objective on Waste Connections from $76.00 to $80.00 and gave the company an outperform rating in a research note on Friday, October 27th. TD Securities raised their price objective on Waste Connections from $73.00 to $74.00 and gave the company a hold rating in a research note on Friday, October 27th. KeyCorp reiterated a buy rating and issued a $78.00 price target on shares of Waste Connections in a report on Friday, October 27th. Finally, Credit Suisse Group set a $82.00 price target on Waste Connections and gave the stock an outperform rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Waste Connections currently has an average rating of Buy and an average price target of $78.56.

Waste Connections (NYSE:WCN) traded up $0.96 during midday trading on Thursday, hitting $70.24. The stock had a trading volume of 558,500 shares, compared to its average volume of 975,600. The company has a market capitalization of $18,265.05, a price-to-earnings ratio of 53.21, a price-to-earnings-growth ratio of 3.70 and a beta of 0.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.46. Waste Connections has a 1 year low of $52.29 and a 1 year high of $74.20.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. sell-side analysts forecast that Waste Connections will post 2.13 earnings per share for the current fiscal year.

In other news, Director Robert Davis sold 700 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Darrell W. Chambliss sold 5,625 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total value of $399,318.75. Following the completion of the sale, the chief operating officer now directly owns 101,292 shares of the company’s stock, valued at approximately $7,190,719.08. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Dai Ichi Life Insurance Company Ltd raised its stake in shares of Waste Connections by 11.6% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 3,682 shares of the business services provider’s stock valued at $237,000 after buying an additional 383 shares during the last quarter. Citigroup Inc. raised its stake in shares of Waste Connections by 4.0% during the 2nd quarter. Citigroup Inc. now owns 12,315 shares of the business services provider’s stock valued at $793,000 after buying an additional 472 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Waste Connections by 55.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after buying an additional 559 shares during the last quarter. Fieldpoint Private Securities LLC increased its stake in shares of Waste Connections by 50.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 702 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Waste Connections by 16.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,128 shares of the business services provider’s stock valued at $359,000 after purchasing an additional 721 shares in the last quarter. 82.90% of the stock is owned by institutional investors.

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About Waste Connections

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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