Waste Connections (NYSE:WCN) Given New $218.00 Price Target at Citigroup

Waste Connections (NYSE:WCN) had its price objective upped by equities research analysts at Citigroup from $199.00 to $218.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price would suggest a potential upside of 11.30% from the company’s previous close.

A number of other brokerages have also commented on WCN. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Morgan Stanley raised their target price on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Scotiabank reduced their price target on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. CIBC decreased their price target on shares of Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Oppenheimer lifted their price objective on Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and an average price target of $204.00.

Waste Connections Trading Down 0.3 %

WCN traded down $0.64 during trading on Wednesday, hitting $195.87. 776,268 shares of the stock traded hands, compared to its average volume of 917,704. The firm has a market capitalization of $50.61 billion, a P/E ratio of 81.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.81. Waste Connections has a 12-month low of $160.34 and a 12-month high of $197.74. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a 50-day moving average of $187.82 and a 200 day moving average of $183.03.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. Equities research analysts anticipate that Waste Connections will post 5.28 EPS for the current year.

Institutional Investors Weigh In On Waste Connections

Several institutional investors and hedge funds have recently made changes to their positions in WCN. Barclays PLC boosted its stake in Waste Connections by 34.3% during the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock valued at $54,190,000 after purchasing an additional 77,466 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Waste Connections by 785.1% during the fourth quarter. GAMMA Investing LLC now owns 4,682 shares of the business services provider’s stock valued at $803,000 after buying an additional 4,153 shares during the last quarter. TCW Group Inc. raised its position in Waste Connections by 6.7% in the 3rd quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock worth $129,184,000 after buying an additional 45,215 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Waste Connections by 6.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 72,189 shares of the business services provider’s stock valued at $12,909,000 after acquiring an additional 4,330 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings in shares of Waste Connections by 20.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 129,256 shares of the business services provider’s stock valued at $22,178,000 after acquiring an additional 22,310 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.