Casella Waste Systems Inc. (CWST) Cut to Sell at Zacks Investment Research
Casella Waste Systems Inc. (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
Several other equities analysts have also issued reports on CWST. KeyCorp reaffirmed a “buy” rating on shares of Casella Waste Systems in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $19.00 price target on shares of Casella Waste Systems in a report on Friday, July 28th. BidaskClub raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, Barclays PLC assumed coverage on shares of Casella Waste Systems in a report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Casella Waste Systems has an average rating of “Hold” and a consensus price target of $16.83.
Casella Waste Systems (NASDAQ CWST) traded up 0.22% during trading on Tuesday, reaching $17.93. The company had a trading volume of 242,151 shares. The stock’s market capitalization is $753.71 million. The stock has a 50 day moving average of $17.80 and a 200-day moving average of $16.03. Casella Waste Systems has a 12-month low of $10.44 and a 12-month high of $19.13.
Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $154.02 million during the quarter, compared to analysts’ expectations of $149.88 million. During the same period in the prior year, the firm posted $0.12 earnings per share. Casella Waste Systems’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts forecast that Casella Waste Systems will post $0.61 earnings per share for the current fiscal year.
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In other news, Director Michael K. Burke sold 31,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $564,795.00. Following the sale, the director now directly owns 116,514 shares of the company’s stock, valued at $2,089,096.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William P. Hulligan sold 20,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $16.15, for a total transaction of $323,000.00. Following the sale, the director now directly 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 owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its holdings in shares of Casella Waste Systems by 206.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock valued at $120,000 after buying an additional 4,922 shares during the last quarter. Simplex Trading LLC grew its holdings in shares of Casella Waste Systems by 596.4% during the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock valued at $162,000 after buying an additional 8,505 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Casella Waste Systems during the first quarter valued at $144,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Casella Waste Systems during the second quarter valued at $186,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Casella Waste Systems during the first quarter valued at $163,000. 77.40% of the stock is currently owned by hedge funds and other institutional investors.
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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