Waste Connections (NYSE:WCN) Coverage Initiated by Analysts at Melius Research

Equities research analysts at Melius Research assumed coverage on shares of Waste Connections (NYSE:WCN) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $213.00 price target on the business services provider’s stock. Melius Research’s price target suggests a potential upside of 12.80% from the company’s current price.

WCN has been the subject of a number of other research reports. Scotiabank boosted their price target on shares of Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $221.00 target price on shares of Waste Connections in a research report on Friday, April 25th. Truist Financial set a $220.00 target price on Waste Connections in a research note on Friday, April 25th. Seaport Res Ptn raised Waste Connections to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered Waste Connections from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.29.

Waste Connections Price Performance

NYSE:WCN traded down $1.38 during trading hours on Monday, hitting $188.84. 228,620 shares of the company’s stock traded hands, compared to its average volume of 998,850. Waste Connections has a 52 week low of $165.20 and a 52 week high of $201.66. The business’s fifty day simple moving average is $193.97 and its two-hundred day simple moving average is $187.59. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. The firm has a market cap of $48.79 billion, a P/E ratio of 79.01, a P/E/G ratio of 3.07 and a beta of 0.62.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS. On average, research analysts anticipate that Waste Connections will post 5.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Trust Co. NA increased its position in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after buying an additional 92 shares during the period. Manchester Capital Management LLC purchased a new stake in Waste Connections in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC bought a new stake in Waste Connections during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in Waste Connections during the 4th quarter valued at approximately $28,000. Finally, Ramirez Asset Management Inc. grew its holdings in shares of Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

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.