Waste Management, Inc. (WM - Free Report) recently announced its plan to acquire Houston-based Avangard Innovative's U.S. business. This business will run as an independent company named Natura PCR under the primary ownership and control of WM.
Avangard and affiliated entities will have a collective minority equity position in Natura PCR. The deal is subject to customary closing conditions and is anticipated to be completed by the end of the year. The financial terms have been kept under wraps.
WM to Expand Foothold in PCR Market
Natura PCR plans to ramp up recycling capacities at Avangard's existing plant in Waller, TX, and build new plant capacity in the Midwest. In five years, it aims to produce 400 million pounds of post-consumer resin (PCR) per year through mechanical recycling of film and flexible plastics. This will help WM expand its foothold in the emerging PCR market.
“Today, there is so much untapped potential to reuse film – which impacts many of our commercial customers. We can help our customers close the loop and bring more recycled materials to the store shelf," said Jim Fish, president and CEO of WM.
Shares of WM have gained 11.2% over the past year against a 19.9% decline of the industry it belongs to.
Zacks Rank and Stocks to Consider
Waste Management currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Avis Budget Group, Inc. (CAR - Free Report) , Genpact Limited (G - Free Report) and CRA International, Inc. (CRAI - Free Report) .
Avis Budget sports a Zacks Rank #1 at present. CAR has an earnings growth rate of 108.4% for 2022.
Avis Budget delivered a trailing four-quarter earnings surprise of 69.5%, on average.
Genpact carries a Zacks Rank #2 (Buy) at present. G has a long-term earnings growth expectation of 12.3%.
Genpact delivered a trailing four-quarter earnings surprise of 10.1%, on average.
CRA International carries a Zacks Rank of 2, currently. CRAI has a long-term earnings growth expectation of 14.3%.
CRAI delivered a trailing four-quarter earnings surprise of 26%, on average.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Waste Management, Inc. (WM - Free Report) recently announced its plan to acquire Houston-based Avangard Innovative's U.S. business. This business will run as an independent company named Natura PCR under the primary ownership and control of WM.
Avangard and affiliated entities will have a collective minority equity position in Natura PCR. The deal is subject to customary closing conditions and is anticipated to be completed by the end of the year. The financial terms have been kept under wraps.
WM to Expand Foothold in PCR Market
Natura PCR plans to ramp up recycling capacities at Avangard's existing plant in Waller, TX, and build new plant capacity in the Midwest. In five years, it aims to produce 400 million pounds of post-consumer resin (PCR) per year through mechanical recycling of film and flexible plastics. This will help WM expand its foothold in the emerging PCR market.
“Today, there is so much untapped potential to reuse film – which impacts many of our commercial customers. We can help our customers close the loop and bring more recycled materials to the store shelf," said Jim Fish, president and CEO of WM.
Shares of WM have gained 11.2% over the past year against a 19.9% decline of the industry it belongs to.
Zacks Rank and Stocks to Consider
Waste Management currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Avis Budget Group, Inc. (CAR - Free Report) , Genpact Limited (G - Free Report) and CRA International, Inc. (CRAI - Free Report) .
Avis Budget sports a Zacks Rank #1 at present. CAR has an earnings growth rate of 108.4% for 2022.
Avis Budget delivered a trailing four-quarter earnings surprise of 69.5%, on average.
Genpact carries a Zacks Rank #2 (Buy) at present. G has a long-term earnings growth expectation of 12.3%.
Genpact delivered a trailing four-quarter earnings surprise of 10.1%, on average.
CRA International carries a Zacks Rank of 2, currently. CRAI has a long-term earnings growth expectation of 14.3%.
CRAI delivered a trailing four-quarter earnings surprise of 26%, on average.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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