Waste Management (NYSE:WM) Price Target Raised to $231.00

Waste Management (NYSE:WM) had its target price increased by Oppenheimer from $230.00 to $231.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s target price points to a potential upside of 7.28% from the stock’s previous close.

Several other research firms have also weighed in on WM. Argus increased their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird reduced their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets increased their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Stock Performance

Shares of NYSE:WM traded up $1.08 during mid-day trading on Tuesday, reaching $215.32. 325,637 shares of the company traded hands, compared to its average volume of 1,612,630. The company’s 50 day moving average price is $209.44 and its 200-day moving average price is $208.94. The firm has a market cap of $86.42 billion, a PE ratio of 32.96, a PEG ratio of 2.26 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management has a 52 week low of $167.78 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. On average, equities analysts expect that Waste Management will post 7.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WM. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in Waste Management during the first quarter valued at approximately $300,594,000. Capital World Investors grew its holdings in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the period. Swedbank AB acquired a new stake in Waste Management in the first quarter valued at approximately $193,955,000. Finally, Wulff Hansen & CO. grew its holdings in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.