Waste Management (NYSE:WM) Given New $235.00 Price Target at Morgan Stanley

Waste Management (NYSE:WM) had its target price raised by equities researchers at Morgan Stanley from $227.00 to $235.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s target price points to a potential upside of 6.74% from the company’s current price.

A number of other analysts have also issued reports on WM. Scotiabank raised Waste Management from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $225.00 to $250.00 in a research note on Monday. UBS Group lifted their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets lifted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Argus boosted their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.83.

Waste Management Stock Down 1.0 %

Waste Management stock opened at $220.17 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market capitalization of $88.37 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. Waste Management has a 12 month low of $184.72 and a 12 month high of $230.39. The business has a 50 day simple moving average of $212.28 and a 200-day simple moving average of $211.36.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. On average, analysts anticipate that Waste Management will post 7.99 EPS for the current fiscal year.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WM. Activest Wealth Management raised its holdings in Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in shares of Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. acquired a new position in Waste Management in the fourth quarter worth about $29,000. Sugar Maple Asset Management LLC bought a new stake in Waste Management in the fourth quarter valued at about $35,000. Finally, Pineridge Advisors LLC acquired a new stake in Waste Management during the fourth quarter valued at approximately $35,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.