Casella Waste Systems, Inc. (NASDAQ:CWST) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Casella Waste Systems, Inc. (NASDAQ:CWST) from a sell rating to a hold rating in a research report sent to investors on Friday. Zacks Investment Research currently has $18.00 price target on the industrial products company’s stock.
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 analysts also recently commented on the stock. Barclays PLC started coverage on shares of Casella Waste Systems in a report on Friday, June 23rd. They issued an overweight rating and a $19.00 target price on the stock. KeyCorp boosted their target price on shares of Casella Waste Systems from $14.00 to $17.00 and gave the stock an overweight rating in a report on Thursday, May 11th. BidaskClub downgraded shares of Casella Waste Systems from a buy rating to a hold rating in a report on Thursday, July 6th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $16.00 target price on shares of Casella Waste Systems in a report on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Casella Waste Systems currently has an average rating of Hold and an average target price of $16.83.
Casella Waste Systems (NASDAQ:CWST) opened at 15.99 on Friday. The stock’s market capitalization is $668.56 million. Casella Waste Systems has a one year low of $8.75 and a one year high of $17.73. The firm has a 50-day moving average of $16.60 and a 200-day moving average of $14.17.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Casella Waste Systems had a negative net margin of 10.01% and a negative return on equity of 60.26%. The business had revenue of $154.02 million for the quarter, compared to the consensus estimate of $149.88 million. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Casella Waste Systems will post $0.59 earnings per share for the current year.
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In other news, COO Edwin D. Johnson sold 3,591 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total transaction of $60,400.62. Following the sale, the chief operating officer now owns 269,500 shares in the company, valued at $4,532,990. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Casella sold 7,817 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total transaction of $131,481.94. Following the sale, the chief executive officer now owns 507,912 shares in the company, valued at approximately $8,543,079.84. The disclosure for this sale can be found here. Insiders have sold 16,102 shares of company stock worth $268,106 in the last 90 days. 11.50% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. purchased a new stake in Casella Waste Systems during the second quarter worth about $1,213,000. Virginia Retirement Systems ET AL purchased a new stake in Casella Waste Systems during the second quarter worth about $699,000. BNP Paribas Arbitrage SA raised its stake in Casella Waste Systems by 206.2% in the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after buying an additional 4,922 shares in the last quarter. Teton Advisors Inc. raised its stake in Casella Waste Systems by 1.6% in the second quarter. Teton Advisors Inc. now owns 603,828 shares of the industrial products company’s stock worth $9,909,000 after buying an additional 9,700 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Casella Waste Systems by 18.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,100 shares of the industrial products company’s stock worth $1,381,000 after buying an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Casella Waste Systems Company Profile
Casella Waste Systems, Inc is a solid waste services company. The Company provides 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. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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