Waste Connections (TSE:WCN) Raised to “Strong-Buy” at Scotiabank

Waste Connections (TSE:WCN) was upgraded by Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research firms have also recently issued reports on WCN. Atb Cap Markets upgraded shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Barclays upgraded shares of Waste Connections to a “hold” rating in a research report on Friday, September 19th. Six investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus target price of C$260.00.

Waste Connections Price Performance

Shares of TSE WCN opened at C$241.95 on Friday. Waste Connections has a 52 week low of C$236.00 and a 52 week high of C$284.73. The stock has a market capitalization of C$62.29 billion, a price-to-earnings ratio of 97.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.39. The firm has a 50-day simple moving average of C$248.60 and a 200-day simple moving average of C$258.30. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 102.69.

Insiders Place Their Bets

In other Waste Connections news, insider Patrick J. Shea sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of C$258.01, for a total transaction of C$1,290,045.00. Following the completion of the transaction, the insider owned 20,671 shares of the company’s stock, valued at C$5,333,304.04. This trade represents a 19.48% decrease in their ownership of the stock. 0.21% of the stock is currently owned by company 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.