Morgan Stanley Increases Waste Connections (NYSE:WCN) Price Target to $214.00

Waste Connections (NYSE:WCN) had its target price lifted by research analysts at Morgan Stanley from $206.00 to $214.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 18.95% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus upped their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday. CIBC upped their price objective on Waste Connections from $199.00 to $215.00 and gave the stock an “outperformer” rating in a research report on Wednesday, December 4th. BMO Capital Markets dropped their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Raymond James cut their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Finally, Scotiabank assumed coverage on shares of Waste Connections in a research note on Friday, October 4th. They set a “sector perform” rating and a $196.00 price target for the company. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.88.

Waste Connections Stock Down 2.4 %

Shares of Waste Connections stock opened at $179.91 on Thursday. Waste Connections has a 12 month low of $144.69 and a 12 month high of $194.83. The business has a fifty day simple moving average of $184.05 and a 200 day simple moving average of $179.91. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $46.43 billion, a PE ratio of 50.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business posted $1.17 EPS. Waste Connections’s revenue was up 13.3% on a year-over-year basis. Research analysts predict that Waste Connections will post 4.84 EPS for the current year.

Institutional Investors Weigh In On Waste Connections

Institutional investors and hedge funds have recently made changes to their positions in the business. Oddo BHF Asset Management Sas acquired a new stake in shares of Waste Connections during the 3rd quarter worth approximately $2,849,000. Tidal Investments LLC boosted its position in shares of Waste Connections by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 7,786 shares of the business services provider’s stock worth $1,392,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Waste Connections in the 3rd quarter valued at about $188,000. Virtu Financial LLC acquired a new position in Waste Connections during the 3rd quarter worth approximately $1,586,000. Finally, TCW Group Inc. boosted its holdings in Waste Connections by 6.7% in the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider’s stock worth $129,184,000 after acquiring an additional 45,215 shares in the last quarter. 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.