JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Waste Connections (NYSE:WCN) Stock
by Amy Steele · The Cerbat GemWaste Connections (NYSE:WCN – Get Free Report) had its price objective increased by analysts at JPMorgan Chase & Co. from $195.00 to $210.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.00% from the stock’s current price.
Several other equities research analysts also recently weighed in on WCN. Oppenheimer reaffirmed an “outperform” rating and issued a $205.00 price target (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $205.00 price target (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. BNP Paribas Exane assumed coverage on shares of Waste Connections in a research note on Tuesday, January 6th. They issued an “outperform” rating for the company. Scotiabank set a $197.00 target price on shares of Waste Connections and gave the stock a “sector outperform” rating in a research report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $203.95.
View Our Latest Research Report on WCN
Waste Connections Stock Down 1.3%
WCN traded down $2.22 during midday trading on Friday, hitting $166.67. The company had a trading volume of 398,559 shares, compared to its average volume of 1,623,511. Waste Connections has a 52 week low of $154.90 and a 52 week high of $199.00. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $42.54 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 2.77 and a beta of 0.61. The stock’s 50 day moving average price is $164.04 and its 200 day moving average price is $168.89.
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.40%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that Waste Connections will post 5.48 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management boosted its holdings in Waste Connections by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock worth $533,000 after purchasing an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Waste Connections by 2.6% during the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after purchasing an additional 64 shares during the last quarter. WPG Advisers LLC boosted its holdings in Waste Connections by 7.7% during the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after purchasing an additional 66 shares during the last quarter. RDA Financial Network boosted its holdings in Waste Connections by 2.8% during the fourth quarter. RDA Financial Network now owns 2,459 shares of the business services provider’s stock worth $431,000 after purchasing an additional 67 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Waste Connections by 12.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock worth $106,000 after purchasing an additional 67 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
About Waste Connections
Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.
The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.