Sanford C. Bernstein Begins Coverage on Waste Connections (NYSE:WCN)

Equities research analysts at Sanford C. Bernstein assumed coverage on shares of Waste Connections (NYSE:WCN) in a note issued to investors on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $200.00 price target on the business services provider’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 19.50% from the stock’s previous close.

Other analysts have also issued research reports about the company. Citigroup reduced their target price on Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Scotiabank restated an “outperform” rating and issued a $210.00 price target on shares of Waste Connections in a report on Thursday, October 23rd. 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. Atb Cap Markets upgraded shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Waste Connections has a consensus rating of “Buy” and an average target price of $210.00.

Waste Connections Stock Up 0.9%

Shares of NYSE WCN opened at $167.37 on Wednesday. Waste Connections has a 1 year low of $163.27 and a 1 year high of $201.66. The firm has a 50-day simple moving average of $173.10 and a two-hundred day simple moving average of $183.04. The company has a market cap of $42.85 billion, a P/E ratio of 69.74, a PEG ratio of 3.17 and a beta of 0.60. 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 (NYSE:WCN) last released its earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Connections will post 5.28 earnings per share for the current year.

Insiders Place Their Bets

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the sale, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently modified their holdings of WCN. Ballentine Partners LLC acquired a new position in Waste Connections during the 1st quarter valued at approximately $221,000. CWM LLC lifted its stake in shares of Waste Connections by 6.1% during the first quarter. CWM LLC now owns 1,335 shares of the business services provider’s stock worth $261,000 after buying an additional 77 shares during the period. Signaturefd LLC grew its holdings in shares of Waste Connections by 8.9% during the first quarter. Signaturefd LLC now owns 2,643 shares of the business services provider’s stock valued at $516,000 after buying an additional 215 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Waste Connections by 17.4% in the 1st quarter. Apollon Wealth Management LLC now owns 2,528 shares of the business services provider’s stock valued at $493,000 after acquiring an additional 374 shares during the period. Finally, Wealthfront Advisers LLC raised its stake in Waste Connections by 6.3% in the 1st quarter. Wealthfront Advisers LLC now owns 28,458 shares of the business services provider’s stock worth $5,555,000 after acquiring an additional 1,682 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

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.