In a report released yesterday, Noah Kaye from Oppenheimer assigned a Buy rating to Waste Connections (WCN), with a price target of $100.00. The company’s shares closed last Thursday at $103.13, close to its 52-week high of $105.17.
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 7.2% and a 58.7% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Johnson Controls, and Dana Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Waste Connections with a $108.17 average price target, which is a 6.4% upside from current levels. In a report issued on July 29, Raymond James also maintained a Buy rating on the stock with a $114.00 price target.
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Based on Waste Connections’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.35 billion and net profit of $143 million. In comparison, last year the company earned revenue of $1.24 billion and had a net profit of $126 million.
Based on the recent corporate insider activity of 154 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WCN in relation to earlier this year.
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Waste Connections, Inc. engages in the provision of solid waste services. Its services include waste collection, transfer, disposal, treatment and recycling. It also provides non-hazardous exploration and production, waste treatment, recovery and disposal services. The company was founded by Ronald J. Mittelstaedt on September 9, 1997 and is headquartered in Vaughan, Canada.