Casella Waste Systems, Inc. (CWST) Hits New 12-Month High at $17.74
Casella Waste Systems, Inc. (NASDAQ:CWST) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.74 and last traded at $17.76, with a volume of 156,179 shares trading hands. The stock had previously closed at $17.52.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research raised Casella Waste Systems from a “sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and issued a $19.00 target price on shares of Casella Waste Systems in a research report on Friday, July 28th. Barclays PLC assumed coverage on Casella Waste Systems in a research report on Friday, June 23rd. They set an “overweight” rating and a $19.00 price target on the stock. Finally, KeyCorp boosted their price target on Casella Waste Systems from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $16.83.
The company’s market cap is $744.04 million. The firm has a 50-day moving average of $16.59 and a 200-day moving average of $15.02.
Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. The company had revenue of $154.02 million for the quarter, compared to analyst estimates of $149.88 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’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, Inc. will post $0.61 earnings per share for the current fiscal year.
In other news, Vice Chairman Douglas R. Casella sold 2,166 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total value of $36,432.12. Following the transaction, the insider now owns 739,613 shares in the company, valued at $12,440,290.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Hulligan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $16.15, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 96,760 shares in the company, valued at approximately $1,562,674. The disclosure for this sale can be found here. Insiders sold 34,602 shares of company stock worth $568,606 in the last 90 days. Corporate insiders own 11.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of CWST. Renaissance Technologies LLC lifted its holdings in shares of Casella Waste Systems by 36.6% in the first quarter. Renaissance Technologies LLC now owns 2,322,342 shares of the industrial products company’s stock valued at $32,768,000 after purchasing an additional 622,381 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Casella Waste Systems by 140.9% in the second quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock valued at $16,813,000 after purchasing an additional 599,264 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Casella Waste Systems in the first quarter valued at approximately $6,461,000. Principal Financial Group Inc. bought a new position in shares of Casella Waste Systems in the second quarter valued at approximately $5,120,000. Finally, Epoch Investment Partners Inc. bought a new position in shares of Casella Waste Systems in the second quarter valued at approximately $3,849,000. Institutional investors own 77.44% of the company’s stock.
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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, 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.