Waste Connections (TSE:WCN) Share Price Passes Below 50 Day Moving Average – Time to Sell?

Shares of Waste Connections, Inc. (TSE:WCN) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$216.26 and traded as low as C$215.43. Waste Connections shares last traded at C$217.54, with a volume of 310,912 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wolfe Research raised shares of Waste Connections to a “strong-buy” rating in a research report on Friday, March 13th. Seven equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Waste Connections Price Performance

The company has a debt-to-equity ratio of 117.10, a current ratio of 0.69 and a quick ratio of 0.74. The stock’s fifty day simple moving average is C$216.08 and its 200-day simple moving average is C$226.27. The company has a market capitalization of C$55.14 billion, a P/E ratio of 52.93, a PEG ratio of 2.22 and a beta of 0.51.

Waste Connections (TSE:WCN) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported C$1.71 EPS for the quarter. Waste Connections had a return on equity of 12.83% and a net margin of 10.98%.The business had revenue of C$3.30 billion for the quarter. On average, equities analysts forecast that Waste Connections, Inc. will post 9.9808652 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Waste Connections news, Director Ronald J. Mittelstaedt purchased 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of C$209.38 per share, with a total value of C$10,469,000.00. Following the transaction, the director directly owned 301,017 shares in the company, valued at approximately C$63,026,939.46. This represents a 19.92% increase in their position. Also, insider Robert Andres Nielsen sold 500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$213.96, for a total value of C$106,980.00. Following the transaction, the insider owned 4,250 shares of the company’s stock, valued at approximately C$909,330. This trade represents a 10.53% decrease in their ownership of the stock. Insiders sold a total of 1,127 shares of company stock worth $238,128 in the last ninety days. Insiders own 0.21% of the company’s stock.

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. Waste Connections entered the Canadian market with its 2016 merger with Progressive Waste. In 2020, 13% of consolidated revenue was generated from the firm’s Canadian segment.