Waste Connections (NYSE:WCN) Downgraded by JPMorgan Chase & Co. to “Neutral”

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.

Waste Connections (NYSE:WCN) last announced its earnings results on Monday, October 28th. The business services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Waste Connections had a net margin of 10.70% and a return on equity of 10.62%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Connections will post 2.65 earnings per share for the current fiscal year.

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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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