Scotiabank Has Lowered Expectations for Waste Connections (NYSE:WCN) Stock Price

Waste Connections (NYSE:WCN) had its price target reduced by equities research analysts at Scotiabank from $196.00 to $192.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s target price suggests a potential upside of 4.96% from the company’s previous close.

Several other equities research analysts have also recently issued reports on WCN. Morgan Stanley raised their target price on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Raymond James reduced their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Eight Capital upgraded Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus lifted their price objective on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.06.

Waste Connections Stock Performance

Waste Connections stock opened at $182.93 on Monday. The stock has a fifty day moving average price of $180.31 and a 200 day moving average price of $180.89. Waste Connections has a 52 week low of $153.07 and a 52 week high of $194.83. The firm has a market capitalization of $47.21 billion, a P/E ratio of 50.26, a PEG ratio of 2.67 and a beta of 0.76. 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 Trading of Waste Connections

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Trust Asset Management LLC bought a new stake in shares of Waste Connections in the 3rd quarter valued at approximately $36,000. FSA Wealth Management LLC bought a new stake in Waste Connections during the third quarter valued at $40,000. Continuum Advisory LLC raised its holdings in shares of Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after purchasing an additional 83 shares during the period. Asset Dedication LLC bought a new position in shares of Waste Connections in the 3rd quarter worth about $41,000. Finally, Kennebec Savings Bank acquired a new position in shares of Waste Connections in the 3rd quarter valued at about $47,000. Institutional investors own 86.09% of the company’s stock.

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.