Barclays Downgrades Waste Management to Equal-weight with Price Target $70.00

Brokerage firm Barclays Downgrades its rating on Waste Management(NYSE:WM). In a research note issued to the investors, the brokerage major Raises the price-target to $70.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Barclays was issued on Aug 9, 2016.

Waste Management (WM) made into the market gainers list on Wednesdays trading session with the shares advancing 0.68% or 0.44 points. Due to strong positive momentum, the stock ended at $65.41, which is also near the day’s high of $65.43. The stock began the session at $65.19 and the volume stood at 24,17,656 shares. The 52-week high of the shares is $70.5 and the 52 week low is $48.79. The company has a current market capitalization of $28,930 M and it has 44,22,88,940 shares in outstanding.

Waste Management(WM) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.42B. Analysts had an estimated revenue of $3.41B. Earnings per share were $0.74. Analysts had estimated an EPS of $0.71.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, Mark E. Schwartz (Sr. VP, Human Resources) sold 70,496 shares at $65.89 per share price.Also, On Aug 4, 2016, James E Jr Trevathan (Executive Vice President) sold 1 shares at $66.11 per share price.On Aug 1, 2016, Don P Carpenter (VP & Chief Acctg Officer) sold 1,634 shares at $66.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Waste Management Inc. is a holding company. The Company through its subsidiaries provides waste management environmental services. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focus on geographic areas and provides collection transfer recycling and resource recovery and disposal services. The Company develops operates and owns landfill gas-to-energy facilities in the United States. The Company’s segments include Tier 1 which comprises areas in the Southern United States; Tier 2 which comprises areas located in the Midwest and Northeast United States and Tier 3 which encompasses the remaining areas including the Northwest and Mid-Atlantic regions of the United States and Eastern Canada. The Company owns or operates 252 landfill sites. It manages 298 transfer stations that consolidate compact and transport waste.

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