Waste Connections, Inc. (NYSE:WCN) had its target price lifted by Stifel Nicolaus from $75.00 to $80.00 in a report issued on Wednesday. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other analysts have also issued reports on the stock. BidaskClub lowered shares of Waste Connections from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Royal Bank Of Canada increased their price target on shares of Waste Connections from $74.00 to $76.00 and gave the stock an outperform rating in a research report on Thursday, July 27th. Credit Suisse Group reissued a buy rating and issued a $75.00 price target on shares of Waste Connections in a research report on Friday, June 23rd. Barclays PLC reissued a buy rating and issued a $68.00 price target on shares of Waste Connections in a research report on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $70.00 price target (up from $64.00) on shares of Waste Connections in a research report on Friday, June 23rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $72.48.

Shares of Waste Connections (WCN) traded down 0.75% during trading on Wednesday, reaching $69.24. 1,352,222 shares of the company traded hands. Waste Connections has a 12 month low of $47.81 and a 12 month high of $70.76. The firm has a 50-day moving average price of $67.59 and a 200-day moving average price of $63.79. The firm has a market capitalization of $18.24 billion, a PE ratio of 58.88 and a beta of 0.23.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The firm’s revenue was up 61.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Equities research analysts anticipate that Waste Connections will post $2.13 EPS for the current year.

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Waste Connections declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 2nd that allows the company to buyback 13,180,000 outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, COO Darrell W. Chambliss sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $65.05, for a total transaction of $1,626,250.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Worthing Jackman sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $65.00, for a total transaction of $1,950,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,500 shares of company stock worth $4,521,285. Insiders own 0.68% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of WCN. Thompson Davis & CO. Inc. grew its holdings in Waste Connections by 55.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 559 shares during the last quarter. Independent Portfolio Consultants Inc. grew its holdings in Waste Connections by 10.1% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 168 shares during the last quarter. Fieldpoint Private Securities LLC grew its holdings in Waste Connections by 50.0% during the second quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 702 shares during the last quarter. US Bancorp DE grew its holdings in Waste Connections by 14.3% during the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 271 shares during the last quarter. Finally, Creative Planning grew its holdings in Waste Connections by 223.5% during the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 1,656 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

About Waste Connections

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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