Oppenheimer Forecasts Strong Price Appreciation for Waste Connections (NYSE:WCN) Stock

Waste Connections (NYSE:WCN) had its price objective hoisted by Oppenheimer from $192.00 to $195.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s target price would suggest a potential upside of 8.36% from the company’s previous close.

A number of other brokerages have also recently issued reports on WCN. Citigroup lifted their target price on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. BMO Capital Markets cut their price objective on Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Scotiabank started coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price for the company. Morgan Stanley lifted their target price on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.88.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $179.95 on Friday. Waste Connections has a 52 week low of $144.69 and a 52 week high of $194.83. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $46.44 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The company’s 50-day moving average price is $184.12 and its two-hundred day moving average price is $180.13.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts anticipate that Waste Connections will post 4.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Waste Connections

Several large investors have recently made changes to their positions in WCN. Global Trust Asset Management LLC acquired a new stake in Waste Connections in the third quarter valued at approximately $36,000. FSA Wealth Management LLC bought a new position in shares of Waste Connections during the 3rd quarter valued at $40,000. Continuum Advisory LLC lifted its stake in shares of Waste Connections by 58.0% in the 3rd quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 83 shares during the last quarter. Asset Dedication LLC bought a new stake in Waste Connections in the third quarter worth $41,000. Finally, Kennebec Savings Bank bought a new stake in Waste Connections in the third quarter worth $47,000. 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.