Waste Management (WM) Upgraded to “Buy” at Goldman Sachs Group

Waste Management (NYSE:WM) was upgraded by equities researchers at Goldman Sachs Group from a “sell” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a $107.00 price objective on the business services provider’s stock, up from their prior price objective of $84.00. Goldman Sachs Group’s price target would indicate a potential upside of 15.53% from the company’s current price.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Thursday, September 20th. Raymond James reissued a “buy” rating on shares of Waste Management in a research note on Monday, October 29th. Oppenheimer reissued a “buy” rating and set a $95.00 price objective on shares of Waste Management in a research note on Thursday, October 25th. ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Finally, UBS Group set a $90.00 price objective on shares of Waste Management and gave the stock a “hold” rating in a research note on Friday, October 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Waste Management has a consensus rating of “Buy” and a consensus target price of $98.14.

NYSE:WM opened at $92.62 on Tuesday. Waste Management has a one year low of $78.39 and a one year high of $95.49. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.84 and a current ratio of 0.87. The stock has a market cap of $39.97 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.11 by $0.04. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Research analysts anticipate that Waste Management will post 4.14 EPS for the current fiscal year.

In other Waste Management news, VP Jeff M. Harris sold 24,500 shares of Waste Management stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Waste Management by 0.5% in the third quarter. BlackRock Inc. now owns 30,633,601 shares of the business services provider’s stock worth $2,768,051,000 after buying an additional 149,599 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Waste Management by 7.8% in the second quarter. Macquarie Group Ltd. now owns 9,258,582 shares of the business services provider’s stock worth $753,094,000 after buying an additional 669,355 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Waste Management by 4.8% in the third quarter. Wells Fargo & Company MN now owns 7,026,931 shares of the business services provider’s stock worth $634,953,000 after buying an additional 322,479 shares during the last quarter. AQR Capital Management LLC raised its holdings in Waste Management by 2.4% in the third quarter. AQR Capital Management LLC now owns 5,463,378 shares of the business services provider’s stock worth $493,671,000 after buying an additional 128,847 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Waste Management by 0.3% in the second quarter. Janus Henderson Group PLC now owns 4,158,613 shares of the business services provider’s stock worth $338,262,000 after buying an additional 11,474 shares during the last quarter. 75.16% of the stock is owned by institutional investors and hedge funds.

About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Analyst Recommendations for Waste Management (NYSE:WM)

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