Citigroup Cuts Waste Connections (NYSE:WCN) Price Target to $209.00

Waste Connections (NYSE:WCN - Get Free Report) had its price objective reduced by equities research analysts at Citigroup from $218.00 to $209.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a "neutral" rating on the business services provider's stock. Citigroup's price target indicates a potential upside of 7.32% from the company's current price.

A number of other brokerages have also commented on WCN. StockNews.com lowered Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Oppenheimer lifted their price target on shares of Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Jefferies Financial Group cut their price objective on shares of Waste Connections from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. CIBC reduced their price objective on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Finally, William Blair started coverage on shares of Waste Connections in a research report on Thursday, April 3rd. They set an "outperform" rating for the company. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and an average price target of $204.43.

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Waste Connections Price Performance

NYSE WCN traded up $2.92 on Tuesday, hitting $194.74. 1,469,552 shares of the company were exchanged, compared to its average volume of 964,291. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. The company has a market cap of $50.31 billion, a P/E ratio of 81.48, a P/E/G ratio of 3.07 and a beta of 0.67. Waste Connections has a 1-year low of $160.34 and a 1-year high of $201.66. The firm has a 50 day moving average of $189.47 and a two-hundred day moving average of $183.72.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. On average, equities analysts predict that Waste Connections will post 5.28 EPS for the current year.

Hedge Funds Weigh In On Waste Connections

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WCN. Manchester Capital Management LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at about $26,000. Private Trust Co. NA raised its position in Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock valued at $26,000 after buying an additional 92 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Waste Connections in the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd acquired a new position in Waste Connections during the 4th quarter worth approximately $28,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Waste Connections by 59.7% during the 4th 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 in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

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.