Waste Connections (TSE:WCN) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Waste Connections, Inc. (TSE:WCN) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$216.26 and traded as low as C$215.43. Waste Connections shares last traded at C$217.54, with a volume of 310,912 shares traded.

Analysts Set New Price Targets

Separately, Wolfe Research raised Waste Connections to a “strong-buy” rating in a research note on Friday, March 13th. Seven analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Strong Buy”.

Waste Connections Price Performance

The firm has a market capitalization of C$55.27 billion, a P/E ratio of 53.06, a PEG ratio of 2.22 and a beta of 0.51. The company has a fifty day moving average of C$216.26 and a 200 day moving average of C$226.33. The company has a debt-to-equity ratio of 117.10, a current ratio of 0.69 and a quick ratio of 0.74.

Waste Connections (TSE:WCN) last released its quarterly earnings results on Wednesday, April 22nd. The company reported C$1.71 earnings per share (EPS) for the quarter. The firm had revenue of C$3.30 billion during the quarter. Waste Connections had a net margin of 10.98% and a return on equity of 12.83%. Sell-side analysts predict that Waste Connections, Inc. will post 9.9808652 earnings per share for the current year.

Insider Buying and Selling at Waste Connections

In other news, Director Ronald J. Mittelstaedt bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of C$209.38 per share, for a total transaction of C$10,469,000.00. Following the completion of the acquisition, the director directly owned 301,017 shares in the company, valued at approximately C$63,026,939.46. This represents a 19.92% increase in their ownership of the stock. Also, insider Robert Andres Nielsen sold 500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$213.96, for a total transaction of C$106,980.00. Following the sale, the insider directly owned 4,250 shares in the company, valued at C$909,330. This trade represents a 10.53% decrease in their position. Over the last quarter, insiders have sold 1,127 shares of company stock valued at $238,128. 0.21% of the stock is currently owned by corporate insiders.

Waste Connections Company Profile

Waste Connections is the third- largest integrated provider of traditional solid waste and recycling services in the North America, operating 91 active landfills (12 are E&P waste landfills), 132 transfer stations, and 68 recycling operations. The firm serves residential, commercial, industrial, and energy end markets. Waste Connections entered the Canadian market with its 2016 merger with Progressive Waste. In 2020, 13% of consolidated revenue was generated from the firm’s Canadian segment.