UBS Group Increases Waste Connections (NYSE:WCN) Price Target to $100.00

Waste Connections (NYSE:WCN) had its price objective raised by analysts at UBS Group from $96.00 to $100.00 in a research note issued on Thursday, April 4th, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS Group’s target price indicates a potential upside of 8.96% from the company’s previous close.

Several other brokerages have also commented on WCN. Zacks Investment Research lowered shares of Waste Connections from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. KeyCorp started coverage on shares of Waste Connections in a research report on Monday, February 4th. They issued an “overweight” rating and a $94.00 target price on the stock. ValuEngine raised shares of Waste Connections from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. TD Securities upped their target price on shares of Waste Connections from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, February 15th. Finally, Royal Bank of Canada upped their target price on shares of Waste Connections from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $95.40.

NYSE WCN traded up $0.68 during trading on Thursday, hitting $91.78. The company had a trading volume of 811,251 shares, compared to its average volume of 750,927. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.65. Waste Connections has a one year low of $70.28 and a one year high of $93.10. The firm has a market capitalization of $23.53 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 3.05 and a beta of 0.25.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Waste Connections had a net margin of 11.11% and a return on equity of 10.46%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $0.56 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts predict that Waste Connections will post 2.8 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in shares of Waste Connections by 1.2% in the 1st quarter. Bank of Montreal Can now owns 8,258,481 shares of the business services provider’s stock worth $731,618,000 after purchasing an additional 94,554 shares during the period. Beutel Goodman & Co Ltd. bought a new position in shares of Waste Connections in the 1st quarter worth approximately $101,000. Assenagon Asset Management S.A. lifted its stake in shares of Waste Connections by 87.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 80,222 shares of the business services provider’s stock worth $7,107,000 after purchasing an additional 37,344 shares during the period. K.J. Harrison & Partners Inc bought a new stake in Waste Connections during the 1st quarter worth approximately $7,188,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in Waste Connections by 72.8% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 74,730 shares of the business services provider’s stock worth $6,620,000 after acquiring an additional 31,490 shares during the period. 84.66% of the stock is currently owned by institutional investors.

About Waste Connections

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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