Casella Waste Systems Inc. (CWST) Hits New 1-Year High at $8.06
Casella Waste Systems Inc. (NASDAQ:CWST) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.06 and last traded at $8.05, with a volume of 196,796 shares. The stock had previously closed at $7.85.
CWST has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Wednesday, June 29th. First Analysis lifted their price objective on shares of Casella Waste Systems from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, June 17th. Finally, Stifel Nicolaus upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Monday, May 9th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $8.08.
The company’s market cap is $335.62 million. The firm has a 50 day moving average of $7.43 and a 200-day moving average of $6.61.
Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Wednesday, May 4th. The company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. The company had revenue of $125.43 million for the quarter, compared to analysts’ expectations of $118.15 million. During the same period last year, the business earned ($0.23) EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that Casella Waste Systems Inc. will post ($0.04) earnings per share for the current year.
In other news, Director Douglas R. Casella sold 5,806 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $7.56, for a total transaction of $43,893.36. Following the sale, the director now owns 738,349 shares of the company’s stock, valued at $5,581,918.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edmond Coletta sold 6,491 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $7.56, for a total transaction of $49,071.96. Following the sale, the chief financial officer now directly owns 164,538 shares in the company, valued at approximately $1,243,907.28. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Casella Waste Systems stock. Wells Fargo & Company MN raised its stake in Casella Waste Systems Inc. (NASDAQ:CWST) by 18.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 209,837 shares of the company’s stock after buying an additional 33,420 shares during the period. Wells Fargo & Company MN owned approximately 0.51% of Casella Waste Systems worth $1,255,000 as of its most recent SEC filing.
Casella Waste Systems, Inc is a solid waste services company. The Company is engaged in the provision of resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services.
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