JPMorgan Chase & Co. cut shares of Waste Connections (NYSE:WCN) from an overweight rating to a neutral rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $98.00 price target on the business services provider’s stock, up from their previous price target of $96.00. The analysts noted that the move was a valuation call.
A number of other analysts have also recently commented on the stock. ValuEngine raised shares of Waste Connections from a sell rating to a hold rating in a report on Wednesday, December 18th. BMO Capital Markets lifted their price target on shares of Waste Connections from $104.00 to $105.00 and gave the company an outperform rating in a report on Monday, January 13th. Deutsche Bank started coverage on shares of Waste Connections in a research report on Friday, January 17th. They issued a buy rating and a $106.00 price target for the company. CIBC set a $99.00 price objective on shares of Waste Connections and gave the stock a buy rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reissued a buy rating and issued a $100.00 price objective on shares of Waste Connections in a research note on Sunday, December 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $100.16.
WCN traded up $0.92 during mid-day trading on Thursday, reaching $98.42. 797,350 shares of the company traded hands, compared to its average volume of 678,203. The stock has a market capitalization of $25.79 billion, a P/E ratio of 45.56, a P/E/G ratio of 3.78 and a beta of 0.13. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average price is $92.45 and its 200-day moving average price is $91.95. Waste Connections has a 52-week low of $80.21 and a 52-week high of $98.62.
In related news, VP David Eddie sold 934 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $90.55, for a total transaction of $84,573.70. Following the transaction, the vice president now directly owns 41,023 shares in the company, valued at approximately $3,714,632.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. HM Payson & Co. purchased a new position in Waste Connections during the 2nd quarter valued at $36,000. Tower Research Capital LLC TRC raised its position in Waste Connections by 2,854.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,507 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 1,456 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Waste Connections during the 3rd quarter valued at $138,000. SRS Capital Advisors Inc. raised its position in Waste Connections by 26.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,035 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 432 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Waste Connections during the 3rd quarter valued at $203,000. Institutional investors own 82.74% of the company’s stock.
Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.
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