Waste Connections (WCN) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Waste Connections (NYSE:WCN) in a report published on Thursday morning. Stifel Nicolaus currently has a $85.00 price objective on the business services provider’s stock.

WCN has been the topic of several other research reports. Credit Suisse Group set a $82.00 price target on shares of Waste Connections and gave the stock an outperform rating in a research note on Tuesday, October 31st. KeyCorp lifted their price target on shares of Waste Connections from $72.00 to $75.00 and gave the stock an overweight rating in a research note on Friday, October 13th. Oppenheimer lifted their price target on shares of Waste Connections from $74.00 to $78.00 and gave the stock an outperform rating in a research note on Friday, October 27th. Royal Bank of Canada lifted their price target on shares of Waste Connections from $76.00 to $80.00 and gave the stock an outperform rating in a research note on Friday, October 27th. Finally, BMO Capital Markets started coverage on shares of Waste Connections in a research note on Monday, December 11th. They set an outperform rating and a $79.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $78.56.

Shares of Waste Connections (NYSE:WCN) traded down $0.53 during trading on Thursday, hitting $69.71. 786,678 shares of the stock traded hands, compared to its average volume of 730,622. The stock has a market cap of $18,378.41, a PE ratio of 52.81, a PEG ratio of 3.72 and a beta of 0.17. Waste Connections has a 1-year low of $52.29 and a 1-year high of $74.20. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. equities research analysts expect that Waste Connections will post 2.13 EPS for the current fiscal year.

In related news, Director Robert Davis sold 700 shares of Waste Connections stock in a transaction on Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Darrell W. Chambliss sold 5,625 shares of Waste Connections stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total transaction of $399,318.75. Following the transaction, the chief operating officer now owns 101,292 shares in the company, valued at approximately $7,190,719.08. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCN. Vanguard Group Inc. increased its holdings in Waste Connections by 55.9% in the 2nd quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock valued at $1,449,523,000 after acquiring an additional 8,068,453 shares during the last quarter. Royal Bank of Canada increased its holdings in Waste Connections by 59.9% in the 2nd quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock valued at $647,028,000 after acquiring an additional 3,762,212 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Waste Connections by 36.9% in the 2nd quarter. Wells Fargo & Company MN now owns 7,286,764 shares of the business services provider’s stock valued at $469,413,000 after acquiring an additional 1,965,851 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Waste Connections by 8.3% in the 2nd quarter. Maverick Capital Ltd. now owns 5,537,682 shares of the business services provider’s stock valued at $356,737,000 after acquiring an additional 426,642 shares during the last quarter. Finally, FMR LLC increased its holdings in Waste Connections by 64.3% in the 2nd quarter. FMR LLC now owns 5,344,512 shares of the business services provider’s stock valued at $344,257,000 after acquiring an additional 2,091,432 shares during the last quarter. Institutional investors own 82.90% of the company’s stock.

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About Waste Connections

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

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