Waste Connections (NYSE:WCN) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Waste Connections (NYSE:WCN) from an overweight rating to a neutral rating in a report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $98.00 target price on the business services provider’s stock, up from their previous target price of $96.00. The analysts noted that the move was a valuation call.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group began coverage on Waste Connections in a research note on Wednesday, November 27th. They issued a buy rating and a $106.00 price target on the stock. BMO Capital Markets increased their price target on Waste Connections from $104.00 to $105.00 and gave the company an outperform rating in a research note on Monday, January 13th. Royal Bank of Canada reissued a buy rating and issued a $100.00 price target on shares of Waste Connections in a research note on Sunday, December 15th. ValuEngine raised Waste Connections from a sell rating to a hold rating in a research note on Wednesday, December 18th. Finally, CIBC set a $99.00 price target on Waste Connections and gave the company a buy rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Waste Connections has an average rating of Buy and a consensus price target of $100.16.

NYSE:WCN opened at $98.42 on Thursday. The stock’s fifty day moving average price is $92.60 and its two-hundred day moving average price is $91.96. Waste Connections has a 52-week low of $80.21 and a 52-week high of $98.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 45.99, a P/E/G ratio of 3.77 and a beta of 0.13.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Waste Connections had a return on equity of 10.62% and a net margin of 10.70%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. On average, equities analysts predict that Waste Connections will post 2.65 EPS for the current fiscal year.

In related news, VP David Eddie sold 934 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $90.55, for a total value of $84,573.70. Following the completion of the sale, the vice president now owns 41,023 shares in the company, valued at approximately $3,714,632.65. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Waste Connections by 6.7% in the 2nd quarter. Royal Bank of Canada now owns 10,154,114 shares of the business services provider’s stock valued at $970,530,000 after buying an additional 637,641 shares in the last quarter. BlackRock Inc. increased its position in shares of Waste Connections by 82.5% in the 2nd quarter. BlackRock Inc. now owns 5,744,080 shares of the business services provider’s stock valued at $549,020,000 after buying an additional 2,595,817 shares in the last quarter. Findlay Park Partners LLP increased its holdings in Waste Connections by 4.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,534,746 shares of the business services provider’s stock worth $325,197,000 after purchasing an additional 139,899 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Waste Connections by 4.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,859,845 shares of the business services provider’s stock worth $262,889,000 after purchasing an additional 122,809 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Waste Connections by 4.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,639,945 shares of the business services provider’s stock worth $150,978,000 after purchasing an additional 73,438 shares in the last quarter. Institutional investors and hedge funds own 82.74% of the company’s stock.

About Waste Connections

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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Analyst Recommendations for Waste Connections (NYSE:WCN)

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