Casella Waste Systems Inc. (CWST) Hits New 1-Year High at $8.95
Casella Waste Systems Inc. (NASDAQ:CWST)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $8.95 and last traded at $8.89, with a volume of 184,074 shares trading hands. The stock had previously closed at $8.71.
CWST has been the subject of several recent research reports. Zacks Investment Research raised 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 target price 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 raised 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 research 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 stock presently has an average rating of “Buy” and a consensus target price of $8.08.
The stock has a 50 day moving average price of $7.60 and a 200-day moving average price of $6.68. The firm’s market capitalization is $366.92 million.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly 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 analyst estimates of $118.15 million. Casella Waste Systems’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. On average, equities research analysts forecast that Casella Waste Systems Inc. will post ($0.04) EPS for the current fiscal year.
In other Casella Waste Systems news, CFO Edmond Coletta sold 6,491 shares of the firm’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $7.56, for a total value of $49,071.96. Following the completion of the sale, the chief financial officer now owns 164,538 shares of the company’s stock, valued at $1,243,907.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John W. Casella sold 9,003 shares of the firm’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $7.56, for a total value of $68,062.68. Following the completion of the sale, the chief executive officer now directly owns 524,991 shares of the company’s stock, valued at approximately $3,968,931.96. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Casella Waste Systems stock. Wells Fargo & Company MN raised its position in shares of Casella Waste Systems Inc. (NASDAQ:CWST) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,837 shares of the company’s stock after buying an additional 33,420 shares during the period. Wells Fargo & Company MN owned 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 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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