Is it Time to Buy or Sell Waste Connections (WCN)?

October 15, 4:10 pm

Waste Connections (WCN) is a waste management company that provides collection, transfer, disposal, and recycling services to residential, commercial, and industrial customers in the United States and Canada. With a market cap of over $36 billion, WCN is a major player in the waste management industry. But the question on many investors' minds is whether it's time to buy or sell WCN stock.
Yesterday, our AI stock picking algorithm, allocated a buy signal to WCN. But what does this mean for retail investors? Let's take a closer look at the reasons behind this signal and whether it's a good time to buy or sell WCN stock.

Understanding AltIndex's AI Score

Our AI score is a score from 0 to 100 that is assigned to select stocks based on their corresponding AI predictions. This score is determined by analyzing a vast range of alternative data insights on thousands of publicly traded companies, with the goal of forecasting company performance and future stock price movements. A high AI score indicates a buy signal, while a low AI score indicates a sell signal. In the case of WCN, the stock currently has an AI score of 62, an increase of 30% in the last couple of days, putting it in buy territory.

The Factors Behind WCN's High AI Score

So, what are the factors that have contributed to WCN's high AI score? According to our alternative data insights, there has been a month over month spike in several key metrics, including Instagram followers, job posts, mobile app downloads, web traffic, and YouTube subscribers. These spikes suggest a growing interest in the company and its services, which could translate into increased revenue and a positive impact on the stock price.

Strong Financial Performance

In its last earnings report for the second quarter of 2023, WCN reported a revenue of $2 billion, up by 11.3% year over year. This strong financial performance is a testament to the company's solid business model and its ability to generate consistent revenue growth. With a strong financial foundation, WCN is well-positioned to weather any market fluctuations and continue to deliver value to its shareholders.

The Current State of WCN Stock

As of this writing, WCN stock is trading at $138.33 per share, down -2.8% in the last month. While this may seem like a dip, it's important to note that the stock has been on an upward trend for the past year, with a 52-week high of $155.56 per share. This suggests that the current dip in the stock price may be a buying opportunity for investors looking to add WCN to their portfolio.

Should You Buy or Sell WCN Stock?

Based on AltIndex's AI score and the factors behind it, as well as WCN's strong financial performance and the current state of its stock, it seems like a good time to buy WCN stock. However, as with any investment decision, it's important to do your own research and consult with a financial advisor before making any investment decisions.

In conclusion, while there is no guarantee of future performance, the current data and analysis suggest that WCN is a strong company with a promising future. With a high AI score, strong financials, and a potential buying opportunity, WCN may be a good addition to your investment portfolio.

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