Zacks Investment Research Downgrades Advanced Disposal Services Inc (ADSW) to Sell
Zacks Investment Research downgraded shares of Advanced Disposal Services Inc (NASDAQ:ADSW) from a hold rating to a sell rating in a research note published on Tuesday.
According to Zacks, “Advanced Disposal Services, Inc. is a waste management company. It offers waste collection, transfer, recycling and disposal services for residential, commercial and industrial customers. The company serves primarily in United States. Advanced Disposal Services, Inc. is based in Ponte Vedra, FL. “
A number of other research analysts have also recently issued reports on ADSW. Deutsche Bank AG lifted their price objective on shares of Advanced Disposal Services from $25.00 to $26.00 and gave the company a buy rating in a report on Monday. Stifel Nicolaus reiterated a buy rating and set a $26.00 price objective on shares of Advanced Disposal Services in a report on Friday, July 28th. CIBC reiterated a buy rating on shares of Advanced Disposal Services in a report on Monday, May 15th. ValuEngine upgraded shares of Advanced Disposal Services from a sell rating to a hold rating in a report on Friday, May 19th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Advanced Disposal Services in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $25.27.
Advanced Disposal Services (NASDAQ ADSW) traded down 1.62% during midday trading on Tuesday, reaching $23.12. 269,557 shares of the company traded hands. The stock’s market capitalization is $2.04 billion. The company has a 50 day moving average of $23.32 and a 200-day moving average of $22.89. Advanced Disposal Services has a 12-month low of $18.32 and a 12-month high of $24.82.
Advanced Disposal Services (NASDAQ:ADSW) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $383.10 million during the quarter, compared to analysts’ expectations of $372.78 million. Advanced Disposal Services had a negative net margin of 0.05% and a negative return on equity of 0.10%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. Equities analysts anticipate that Advanced Disposal Services will post $0.57 EPS for the current fiscal year.
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In related news, insider Steven R. Carn sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $21.87, for a total transaction of $1,202,850.00. Following the transaction, the insider now directly owns 369,733 shares of the company’s stock, valued at $8,086,060.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven R. Carn sold 18,666 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $24.26, for a total transaction of $452,837.16. Following the transaction, the insider now directly owns 232,401 shares in the company, valued at $5,638,048.26. The disclosure for this sale can be found here. Insiders have sold 192,332 shares of company stock worth $4,400,465 over the last three months.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in Advanced Disposal Services by 14.1% in the second quarter. Legal & General Group Plc now owns 6,426 shares of the company’s stock worth $146,000 after buying an additional 795 shares during the period. Stevens Capital Management LP purchased a new position in Advanced Disposal Services during the first quarter worth about $228,000. Legato Capital Management LLC purchased a new position in Advanced Disposal Services during the second quarter worth about $277,000. Teacher Retirement System of Texas boosted its position in Advanced Disposal Services by 24.7% in the second quarter. Teacher Retirement System of Texas now owns 12,469 shares of the company’s stock worth $283,000 after buying an additional 2,469 shares during the period. Finally, American International Group Inc. purchased a new position in Advanced Disposal Services during the first quarter worth about $288,000.
About Advanced Disposal Services
Advanced Disposal Services, Inc is an integrated provider of non-hazardous solid waste collection, transfer, recycling and disposal services operating primarily in secondary markets or under exclusive arrangements. The Company’s segments include South, East, Midwest and Corporate. As of December 31, 2016, the Company had its presence in 16 states across the Midwest, South and East regions of the United States, as well as in the Commonwealth of the Bahamas, served approximately 2.7 million residential customers and over 200,000 commercial and industrial (C&I) customers through its network of 90 collection operations, 72 transfer stations, 21 owned or operated recycling facilities and 39 owned or operated active landfills.
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