Waste Connections is well connected when it comes to picking up garbage. It operates in 43 states and six Canadian provinces. On Thursday the Relative Strength (RS) Rating for Waste Connections stock was lifted to 71, up from 65 on Wednesday.
Waste Connections Stock Doubled In 3 Years
Everybody needs waste collections services. So it's not surprising that Waste Connections stock has seen hockey-stick-like growth, except for the Great Recession, since it launched its IPO in 2005. It dropped to an 8.42 low in December 2008 and closed Thursday at 136.08, up 1,516% from the 2008 low. And it's nearly doubled from a 70.87 low in late March 2020 amid the Covid market crash.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. The upgraded 71 Relative Strength Rating shows that Waste Connections stock has outperformed 70% of all stocks in terms of price performance.
The waste collection and recycling company posted 7% earnings growth to 89 cents per share in its most recent report, while sales grew 15% to $1.87 billion. The prior three quarters its EPS rose 17%, 23% and then 24%.
"Strong operational execution and over 10% solid waste pricing, along with acquisitions closed during the period, once again provided for better than expected results," CEO Worthing Jackman said in the company's fourth quarter earnings release on Feb. 15.
Other Ratings Outstanding
Among its other key ratings, Woodbridge, Ontario-based Waste Connections sports an 87 Earnings Per Share Rating, out of 99. It also has an 87 Composite Rating, a combination of five key fundamental and technical metrics. Its B Accumulation/Distribution Rating shows that big money investors are fairly avid buyers. As of December, 1,671 funds owned Waste Connections shares, a bullish indicator.
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Waste Connections stock is building a flat base with a 146.22 entry. See if it can clear the breakout price in volume at least 40% above average. On Thursday Waste Connections stock shot up 3.85% to 136.08. That's not far below its all-time high 148.22 set on Sept. 12 last year.
Waste Connections stock earns the No. 7 rank among its peers in the Pollution-Control industry group. Heritage-Crystal Clean and Clean Harbors are also among the group's highest-rated stocks.
IBD's unique Relative Strength Rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
