Oppenheimer Remains a Buy on Waste Management (WM)

In a report issued on October 15, Noah Kaye from Oppenheimer maintained a Buy rating on Waste Management (WMResearch Report), with a price target of $123.00. The company’s shares closed last Friday at $115.87.

According to TipRanks.com, Kaye is a 5-star analyst with an average return of 9.0% and a 60.9% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Johnson Controls, and Dana Holding.

Currently, the analyst consensus on Waste Management is a Moderate Buy with an average price target of $118.00.

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Based on Waste Management’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.56 billion and net profit of $307 million. In comparison, last year the company earned revenue of $3.95 billion and had a net profit of $381 million.

Based on the recent corporate insider activity of 58 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 WM in relation to earlier this year.

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Waste Management, Inc. engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States. The Tier 3 segment comprises all remaining areas, including the Northwest and Mid-Atlantic regions of the United States and Eastern Canada. The company was founded on September 30, 1987 and is headquartered in Houston, TX.