Waste Connections (NYSE:WCN) Price Target Cut to $192.00 by Analysts at Scotiabank

Waste Connections (NYSE:WCN) had its target price lowered by analysts at Scotiabank from $196.00 to $192.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s target price would indicate a potential upside of 6.99% from the stock’s previous close.

WCN has been the topic of a number of other research reports. Morgan Stanley boosted their target price on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. CIBC lowered their target price on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Eight Capital raised Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Finally, Raymond James cut their target price on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.06.

Waste Connections Trading Up 1.0 %

WCN opened at $179.46 on Monday. The company’s 50 day moving average is $180.40 and its 200-day moving average is $180.87. The company has a market cap of $46.31 billion, a P/E ratio of 49.30, a PEG ratio of 2.67 and a beta of 0.76. Waste Connections has a 1-year low of $153.07 and a 1-year high of $194.83. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versor Investments LP raised its position in shares of Waste Connections by 75.1% during the third quarter. Versor Investments LP now owns 8,221 shares of the business services provider’s stock worth $1,470,000 after purchasing an additional 3,527 shares during the period. Blueshift Asset Management LLC bought a new stake in Waste Connections during the 3rd quarter valued at $552,000. Dynamic Technology Lab Private Ltd acquired a new position in Waste Connections during the third quarter worth $2,503,000. Barclays PLC lifted its stake in shares of Waste Connections by 34.3% in the third quarter. Barclays PLC now owns 303,040 shares of the business services provider’s stock valued at $54,190,000 after buying an additional 77,466 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of Waste Connections by 65.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider’s stock valued at $543,000 after buying an additional 1,202 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

About Waste Connections

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.