Waste Connections (NYSE:WCN) Given New $219.00 Price Target at Morgan Stanley

Waste Connections (NYSE:WCN) had its price target raised by equities researchers at Morgan Stanley from $214.00 to $219.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 15.83% from the stock’s previous close.

WCN has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Citigroup boosted their price objective on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. BMO Capital Markets reduced their price objective on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Jefferies Financial Group reduced their price objective on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.00.

Waste Connections Price Performance

NYSE WCN opened at $189.08 on Friday. 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 stock has a market capitalization of $48.79 billion, a PE ratio of 51.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. The company has a 50 day moving average price of $179.36 and a two-hundred day moving average price of $181.63. Waste Connections has a 12-month low of $160.34 and a 12-month high of $194.83.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. As a group, equities analysts predict that Waste Connections will post 4.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waste Connections

Institutional investors and hedge funds have recently bought and sold shares of the business. Versor Investments LP increased its holdings in Waste Connections by 75.1% in the 3rd quarter. Versor Investments LP now owns 8,221 shares of the business services provider’s stock valued at $1,470,000 after buying an additional 3,527 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth about $552,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Waste Connections in the 3rd quarter worth about $2,503,000. Barclays PLC grew its holdings in shares of Waste Connections by 34.3% in the 3rd quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock worth $54,190,000 after purchasing an additional 77,466 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of Waste Connections by 65.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider’s stock worth $543,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors 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.