Waste Connections (TSE:WCN) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Waste Connections, Inc. (TSE:WCN) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$216.26 and traded as low as C$215.43. Waste Connections shares last traded at C$217.54, with a volume of 310,912 shares.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research upgraded Waste Connections to a “strong-buy” rating in a report on Friday, March 13th. Seven analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Strong Buy”.

Waste Connections Stock Performance

The firm has a market capitalization of C$55.27 billion, a P/E ratio of 53.06, a price-to-earnings-growth ratio of 2.22 and a beta of 0.51. The company’s 50 day moving average is C$216.26 and its 200-day moving average is C$226.33. The company has a quick ratio of 0.74, a current ratio of 0.69 and a debt-to-equity ratio of 117.10.

Waste Connections (TSE:WCN) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported C$1.71 EPS for the quarter. Waste Connections had a net margin of 10.98% and a return on equity of 12.83%. The business had revenue of C$3.30 billion during the quarter. As a group, equities analysts anticipate that Waste Connections, Inc. will post 9.9808652 EPS for the current year.

Insider Transactions at Waste Connections

In other news, insider Robert Andres Nielsen sold 500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$213.96, for a total transaction of C$106,980.00. Following the transaction, the insider owned 4,250 shares of the company’s stock, valued at C$909,330. This represents a 10.53% decrease in their position. Also, Director Ronald J. Mittelstaedt bought 50,000 shares of Waste Connections stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of C$209.38 per share, with a total value of C$10,469,000.00. Following the completion of the purchase, the director owned 301,017 shares in the company, valued at C$63,026,939.46. This trade represents a 19.92% increase in their ownership of the stock. Insiders have sold a total of 1,127 shares of company stock worth $238,128 in the last three months. Insiders own 0.21% of the company’s stock.

About Waste Connections

Waste Connections is the third- largest integrated provider of traditional solid waste and recycling services in the North America, operating 91 active landfills (12 are E&P waste landfills), 132 transfer stations, and 68 recycling operations. The firm serves residential, commercial, industrial, and energy end markets. Waste Connections entered the Canadian market with its 2016 merger with Progressive Waste. In 2020, 13% of consolidated revenue was generated from the firm’s Canadian segment.