KeyCorp Reiterates “Buy” Rating for Casella Waste Systems, Inc. (CWST)
Casella Waste Systems, Inc. (NASDAQ:CWST)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a research note issued on Friday.
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus restated a “buy” rating and set a $19.00 price objective on shares of Casella Waste Systems in a research note on Friday, July 28th. BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Barclays PLC initiated coverage on shares of Casella Waste Systems in a research report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.83.
Casella Waste Systems (CWST) traded down 1.16% during trading on Friday, hitting $17.94. 181,738 shares of the stock were exchanged. Casella Waste Systems has a one year low of $10.52 and a one year high of $19.13. The stock’s 50 day moving average is $17.80 and its 200-day moving average is $16.02. The company’s market cap is $754.13 million.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share for the quarter, beating 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 analysts’ expectations of $149.88 million. During the same period in the previous year, the business earned $0.12 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Casella Waste Systems will post $0.61 earnings per share for the current fiscal year.
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In other Casella Waste Systems news, Director Michael K. Burke sold 31,500 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $17.93, for a total value of $564,795.00. Following the sale, the director now directly owns 116,514 shares in the company, valued at $2,089,096.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Hulligan sold 20,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $16.15, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 96,760 shares in the company, valued at $1,562,674. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in Casella Waste Systems by 13.9% in the second quarter. Renaissance Technologies LLC now owns 2,644,942 shares of the industrial products company’s stock worth $43,403,000 after acquiring an additional 322,600 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Casella Waste Systems by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,016,385 shares of the industrial products company’s stock worth $33,089,000 after purchasing an additional 108,350 shares in the last quarter. Vanguard Group Inc. increased its stake in Casella Waste Systems by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,667,852 shares of the industrial products company’s stock worth $27,369,000 after purchasing an additional 115,130 shares in the last quarter. Macquarie Group Ltd. increased its stake in Casella Waste Systems by 140.9% in the 2nd quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock worth $16,813,000 after purchasing an additional 599,264 shares in the last quarter. Finally, State Street Corp increased its stake in Casella Waste Systems by 7.3% in the 2nd quarter. State Street Corp now owns 707,702 shares of the industrial products company’s stock worth $11,615,000 after purchasing an additional 47,955 shares in the last quarter. Hedge funds and other institutional investors own 77.40% 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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