Zacks Investment Research Upgrades Casella Waste Systems Inc. (CWST) to “Strong-Buy”
Casella Waste Systems Inc. (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $12.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 15.72% from the company’s previous close.
According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “
A number of other equities research analysts have also weighed in on the stock. First Analysis lifted their price objective on shares of Casella Waste Systems from $9.50 to $11.50 and gave the company an “overweight” rating in a report on Monday, August 8th. Imperial Capital decreased their price objective on shares of Casella Waste Systems from $12.00 to $8.50 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Stifel Nicolaus set a $10.00 price objective on shares of Casella Waste Systems and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, KeyCorp reiterated a “buy” rating on shares of Casella Waste Systems in a report on Thursday, July 14th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Casella Waste Systems presently has a consensus rating of “Buy” and a consensus price target of $10.50.
Casella Waste Systems (NASDAQ:CWST) opened at 10.37 on Tuesday. The stock’s market cap is $430.23 million. The company’s 50 day moving average is $9.37 and its 200 day moving average is $8.11. Casella Waste Systems has a 12 month low of $4.97 and a 12 month high of $10.71.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $144.67 million for the quarter, compared to the consensus estimate of $145.37 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that Casella Waste Systems will post $0.04 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its position in shares of Casella Waste Systems by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 29,977 shares of the company’s stock worth $201,000 after buying an additional 137 shares during the last quarter. I.G. Investment Management LTD. increased its position in shares of Casella Waste Systems by 0.8% in the second quarter. I.G. Investment Management LTD. now owns 83,556 shares of the company’s stock worth $656,000 after buying an additional 701 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Casella Waste Systems by 4.2% in the second quarter. Nationwide Fund Advisors now owns 25,956 shares of the company’s stock worth $204,000 after buying an additional 1,057 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Casella Waste Systems by 0.4% in the first quarter. Geode Capital Management LLC now owns 264,593 shares of the company’s stock worth $1,772,000 after buying an additional 1,072 shares during the last quarter. Finally, Aristotle Capital Boston LLC increased its position in shares of Casella Waste Systems by 1.1% in the second quarter. Aristotle Capital Boston LLC now owns 360,509 shares of the company’s stock worth $2,830,000 after buying an additional 3,751 shares during the last quarter. 65.65% of the stock is currently owned by institutional investors and hedge funds.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, in the areas of solid waste collection and disposal, transfer, recycling and organics services. Its segments include its two regional segments, Eastern and Western regions, which provide a range of solid waste services; Recycling, which offers recycling operations and its commodity brokerage operations, and Other, including organic services, ancillary operations and industrial services.
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