12 Best Beaten Down Stocks to Buy According to Hedge Funds

11. Waste Connections, Inc. (NYSE:WCN)

Number of Hedge Fund Holders: 43

52-Week Low: $169.36

Stock Price: $172.56

Waste Connections, Inc. (NYSE:WCN) is one of the Best Beaten Down Stocks to Buy According to Hedge Funds. On October 10, Scotiabank lifted the price target on the company’s stock to “Outperform” from “Sector Perform” with an unchanged price target of $208, as reported by The Fly. The firm cited the stock’s improved relative valuation and confidence in Waste Connections, Inc. (NYSE:WCN)’s future FCF conversion for the upgrade. As per the analyst, Waste Connections, Inc. (NYSE:WCN)’s shares have significantly underperformed the solid waste group over the previous year. This compressed its valuation premium to peers. Notably, the firm expects the current share levels as a great entry point.

On a separate note, on October 16, UBS reduced the price target on the company’s stock to $190 from $205, while keeping a “Neutral” rating on the shares. As per the analyst, 2025 is shaping up to be a modestly below-average year for the Municipal Solid Waste operating performance. However, the volatility in relative share performance is more of an inverse reaction to the broader market sentiment shifts, added the analyst.

Chautauqua Capital Management, a division of Baird Asset Management, is a boutique investment firm that released its Q2 2025 investor letter for “Baird Chautauqua International and Global Growth Fund”. Here is what the fund said:

“Waste Connections, Inc. (NYSE:WCN) reported a strong 1Q25 driven by solid waste pricing; however, shares fell 9% in 2Q after a 14% gain in 1Q. There may have been some investor disappointment that management did not raise guidance for the year. Recycled commodity prices declined 10%, but recycling represents only 2% of total revenues. Overall, the company is performing well operationally.”