CIBC Reiterates $99.00 Price Target for Waste Connections (NYSE:WCN)

Waste Connections (NYSE:WCN) has been given a $99.00 target price by analysts at CIBC in a research report issued to clients and investors on Friday, AnalystRatings.com reports. The firm currently has a “buy” rating on the business services provider’s stock. CIBC’s target price would suggest a potential upside of 5.10% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Waste Connections in a report on Wednesday, August 7th. They issued an “overweight” rating and a $98.00 target price on the stock. Stifel Nicolaus set a $105.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a report on Monday, September 23rd. Macquarie initiated coverage on shares of Waste Connections in a report on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 target price on the stock. Raymond James upped their target price on shares of Waste Connections from $105.00 to $106.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 31st. Finally, ValuEngine lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $96.82.

Shares of WCN traded up $1.95 on Friday, reaching $94.20. The company’s stock had a trading volume of 779,087 shares, compared to its average volume of 661,875. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. Waste Connections has a twelve month low of $70.28 and a twelve month high of $97.93. The stock has a market capitalization of $24.33 billion, a PE ratio of 37.38, a PEG ratio of 3.07 and a beta of 0.19. The firm has a fifty day moving average of $91.18 and a 200-day moving average of $92.36.

Waste Connections (NYSE:WCN) last posted its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.69. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Connections will post 2.66 EPS for the current fiscal year.

In other Waste Connections news, Director Michael W. Harlan sold 2,038 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $91.43, for a total value of $186,334.34. Following the completion of the sale, the director now directly owns 17,425 shares of the company’s stock, valued at approximately $1,593,167.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew Stephen Black sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $91.69, for a total transaction of $366,760.00. Following the completion of the sale, the vice president now directly owns 23,063 shares of the company’s stock, valued at $2,114,646.47. The disclosure for this sale can be found here. Insiders sold a total of 78,638 shares of company stock valued at $7,128,039 over the last ninety days. 0.30% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. HM Payson & Co. bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $39,000. Commonwealth Bank of Australia grew its position in shares of Waste Connections by 47.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 551 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 178 shares during the period. TRUE Private Wealth Advisors bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $66,000. Finally, Signaturefd LLC grew its position in shares of Waste Connections by 42.2% during the 2nd quarter. Signaturefd LLC now owns 1,214 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 360 shares during the period. 82.55% of the stock is owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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