CIBC Lowers Waste Connections (NYSE:WCN) Price Target to $212.00

Waste Connections (NYSE:WCN - Get Free Report) had its price objective reduced by equities research analysts at CIBC from $215.00 to $212.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the business services provider's stock. CIBC's price objective indicates a potential upside of 21.75% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. Morgan Stanley boosted 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, December 12th. Stifel Nicolaus boosted their price objective on shares of Waste Connections from $205.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Oppenheimer increased their target price on shares of Waste Connections from $192.00 to $195.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Eight Capital raised Waste Connections to a "hold" rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their price target on Waste Connections from $198.00 to $197.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Waste Connections has an average rating of "Moderate Buy" and a consensus target price of $199.69.

Waste Connections Stock Performance

WCN stock traded down $0.53 during midday trading on Thursday, hitting $174.13. 1,143,427 shares of the company traded hands, compared to its average volume of 897,636. Waste Connections has a twelve month low of $145.35 and a twelve month high of $194.83. The stock has a market capitalization of $44.94 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. 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 business has a 50 day simple moving average of $183.93 and a 200-day simple moving average of $180.43.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. Waste Connections's revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. As a group, equities research analysts predict that Waste Connections will post 4.84 earnings per share for the current year.

Institutional Trading of Waste Connections

Several large investors have recently made changes to their positions in WCN. Oddo BHF Asset Management Sas bought a new stake in shares of Waste Connections during the third quarter valued at approximately $2,849,000. Tidal Investments LLC increased its stake in shares of Waste Connections by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 7,786 shares of the business services provider's stock valued at $1,392,000 after buying an additional 151 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Waste Connections in the 3rd quarter valued at $188,000. Virtu Financial LLC bought a new stake in shares of Waste Connections during the third quarter worth $1,586,000. Finally, TCW Group Inc. lifted its stake in shares of Waste Connections by 6.7% during the third quarter. TCW Group Inc. now owns 722,426 shares of the business services provider's stock valued at $129,184,000 after acquiring an additional 45,215 shares during the period. Institutional investors own 86.09% of the company's stock.

About Waste Connections

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.