Waste Connections (NYSE:WCN) Upgraded to “Strong-Buy” at Melius Research

Waste Connections (NYSE:WCN) was upgraded by stock analysts at Melius Research to a “strong-buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $213.00 price objective on the business services provider’s stock. Melius Research’s target price suggests a potential upside of 12.65% from the company’s current price.

A number of other equities analysts also recently issued reports on WCN. Wall Street Zen downgraded Waste Connections from a “buy” rating to a “hold” rating in a report on Friday, February 14th. National Bank Financial upgraded Waste Connections to a “strong-buy” rating in a report on Monday, May 26th. JPMorgan Chase & Co. raised their price target on Waste Connections from $197.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. BMO Capital Markets raised their price target on Waste Connections from $214.00 to $216.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, Melius began coverage on Waste Connections in a report on Monday. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.29.

Waste Connections Stock Up 0.1%

Shares of NYSE WCN opened at $189.09 on Monday. Waste Connections has a one year low of $165.20 and a one year high of $201.66. 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’s 50 day simple moving average is $193.60 and its two-hundred day simple moving average is $187.59. The stock has a market capitalization of $48.86 billion, a P/E ratio of 79.12, a PEG ratio of 3.07 and a beta of 0.62.

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

Hedge Funds Weigh In On Waste Connections

A number of institutional investors have recently added to or reduced their stakes in WCN. Manchester Capital Management LLC purchased a new position in Waste Connections during the fourth quarter worth approximately $26,000. Private Trust Co. NA lifted its position in Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after buying an additional 92 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Waste Connections during the fourth quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Waste Connections during the fourth quarter worth approximately $28,000. Finally, Smartleaf Asset Management LLC lifted its position in Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after buying an additional 71 shares in the last quarter. Hedge funds and other 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.