Waste Connections (NYSE:WCN) Downgraded by StockNews.com to "Hold"

Waste Connections (NYSE:WCN - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other research firms have also recently weighed in on WCN. Truist Financial restated a "buy" rating and issued a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a report on Friday. Royal Bank of Canada upped their target price on Waste Connections from $199.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Stifel Nicolaus raised their price target on Waste Connections from $205.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Jefferies Financial Group decreased their price objective on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Finally, Raymond James dropped their target price on shares of Waste Connections from $208.00 to $205.00 and set a "strong-buy" rating for the company in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $201.00.

Waste Connections Price Performance

Shares of NYSE:WCN traded down $1.41 on Friday, reaching $187.63. 978,918 shares of the company were exchanged, compared to its average volume of 988,278. The company has a 50-day moving average of $179.42 and a 200-day moving average of $181.77. 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 firm has a market cap of $48.42 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. Waste Connections has a 1-year low of $160.34 and a 1-year high of $194.83.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. Equities analysts forecast that Waste Connections will post 4.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waste Connections

Several hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC purchased a new position in Waste Connections during the fourth quarter worth about $26,000. Private Trust Co. NA increased its stake in shares of Waste Connections by 153.3% during the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock valued at $26,000 after acquiring an additional 92 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Waste Connections during the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Waste Connections during the 4th quarter worth about $28,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds 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.