Stock Analysis:Waste Connections (NYSE:WCN) Target Upped
In a recent research report revealed to investors and clients by Wedbush on Friday morning, Waste Connections (NYSE:WCN) had its PT raised to $59.00. The firm now has a solid Outperform rating on shares.
From a total of 10 analysts covering Waste Connections (NYSE:WCN) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is $60 while the lowest target price is $55. The mean of all analyst targets is $58.3 with a 5.62% above today’s ($53.78) stock price. Waste Connections was the topic of 7 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Credit Suisse initiated shares on November 6 with “Outperform” rating. Imperial Capital maintained WCN stock in a recent report from October 28 with “Outperform” rating.
Approximately 151,385 shares of stock traded hands. Waste Connections, Inc. (NYSE:WCN) has risen 14.90% since May 8, 2015 and is uptrending. It has outperformed by 17.92% the S&P500.
The overall sentiment of institutions has increased to 1.04 in Q2 2015. Its up 0.22, from 0.82 in 2015Q2. The ratio increased, as 14 institutions have sold all the shares of Waste Connections, Inc. that they owned while 101 funds have taken shares off the table. 21 funds have purchased shares for the first time while 99 added to their positions. These institutions now hold 106.30 million shares or 7.14% less than the 114.47 million shares they owned in 2015Q2.
The Fund Snyder Capital Management L P currently is holding shares equating to 5.09% of its total portfolio in Waste Connections, Inc. representing a total of 1.62 million shares. Another fund,Weatherbie Capital Llc, is holding a total of 744,663 shares equating to 4.19% of their holdings. Additionally, Millrace Asset Group Inc. has a 57,418 share stake in Waste Connections, Inc. which represents 3% of their total portfolio. The Fund, Bourgeon Capital Management Llc, based out of Connecticut, has also built up a stake in the stock, which represents a total of 2.86% of their total portfolio. Finally Hoplite Capital Management L.P., a fund which is based in the state of New York reported a total holdings of 1.47 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of Waste Connections, Inc. have witnessed 0 insider purchases, and a total of 4 sales equating to a net activity of approximately $692,932 . Harlan Michael W sold 4,100 shares worth approximately $198,169. Hansen Eric sold 132 shares worth approximately $6,252. Razzouk William J sold 8,500 shares worth approximately $427,654. Wojahn Richard Keith sold 1,200 shares worth approximately $60,857. The company insider Thibodeaux Gregory sold 4,273 shares worth $204,480.
Waste Connections, Inc. is an integrated municipal solid waste services firm that provides solid waste collection, transfer, disposal and recycling services. The company has a market cap of $6.63 billion. It provides non-hazardous exploration and production (E&P), waste treatment, recovery and disposal services. It currently has negative earnings. The Firm operates in four divisions: Western, Central, Eastern and E&P.
According to Zacks Investment Research, “Waste Connections, Inc. is a regional, integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in secondary markets of the Western U.S. The company serves numerous commercial, industrial and residential customers in Washington, California, Idaho, Wyoming and South Dakota.” Get a free copy of the Zacks research report on Waste Connections, Inc. (WCN).