Waste Connections (NYSE:WCN) Upgraded at BNP Paribas

Waste Connections (NYSE:WCN) was upgraded by equities researchers at BNP Paribas to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the company. The Goldman Sachs Group initiated coverage on Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 price target on the stock. BNP Paribas Exane began coverage on Waste Connections in a research note on Tuesday. They set an “outperform” rating on the stock. Wells Fargo & Company initiated coverage on shares of Waste Connections in a research report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target for the company. National Bankshares decreased their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $205.00 target price (up from $200.00) on shares of Waste Connections in a research note on Monday. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Waste Connections has a consensus rating of “Buy” and an average target price of $209.16.

Waste Connections Stock Performance

NYSE WCN opened at $168.50 on Tuesday. The company has a fifty day moving average price of $172.77 and a 200-day moving average price of $177.73. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 70.21, a PEG ratio of 3.15 and a beta of 0.63. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections has a 1 year low of $163.27 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the firm earned $1.35 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Waste Connections will post 5.28 EPS for the current fiscal year.

Insider Buying and Selling at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the sale, the director owned 14,883 shares of the company’s stock, valued at $2,596,190.52. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Waste Connections by 2.3% during the third quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider’s stock worth $5,552,682,000 after acquiring an additional 717,440 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Waste Connections by 1.8% during the 2nd quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock valued at $1,208,669,000 after purchasing an additional 117,939 shares during the period. Mackenzie Financial Corp lifted its holdings in Waste Connections by 17.6% during the 3rd quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock worth $1,078,536,000 after purchasing an additional 918,245 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Waste Connections by 39.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock worth $783,218,000 after purchasing an additional 1,264,150 shares in the last quarter. Finally, Norges Bank bought a new position in Waste Connections in the 2nd quarter worth about $755,938,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Company Profile

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.