Covanta (NYSE:CVA) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts also recently issued reports on the company. Raymond James upped their target price on Covanta from $17.50 to $19.00 and gave the company a “strong-buy” rating in a research report on Monday, July 30th. Credit Suisse Group upped their target price on Covanta from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. BMO Capital Markets reissued a “buy” rating and issued a $20.00 target price (up from $19.00) on shares of Covanta in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded Covanta from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $17.75.

NYSE CVA opened at $17.80 on Friday. The company has a debt-to-equity ratio of 4.26, a quick ratio of 1.20 and a current ratio of 1.20. Covanta has a 1 year low of $14.05 and a 1 year high of $18.05. The firm has a market capitalization of $2.33 billion, a P/E ratio of -48.11, a PEG ratio of 19.78 and a beta of 0.76.

Covanta (NYSE:CVA) last released its earnings results on Thursday, July 26th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. Covanta had a return on equity of 2.63% and a net margin of 17.21%. The firm had revenue of $454.00 million for the quarter, compared to the consensus estimate of $451.63 million. During the same period in the prior year, the firm earned ($0.22) EPS. The firm’s revenue was up 7.1% on a year-over-year basis. analysts expect that Covanta will post 0.06 earnings per share for the current fiscal year.

In other Covanta news, insider Paul E. Stauder sold 2,000 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $17.53, for a total transaction of $35,060.00. Following the sale, the insider now directly owns 42,025 shares of the company’s stock, valued at approximately $736,698.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CVA. Quad Cities Investment Group LLC acquired a new stake in Covanta during the 1st quarter worth about $150,000. Trexquant Investment LP acquired a new stake in Covanta during the 2nd quarter worth about $191,000. Tower Research Capital LLC TRC acquired a new stake in Covanta during the 2nd quarter worth about $206,000. Paloma Partners Management Co acquired a new stake in Covanta during the 2nd quarter worth about $253,000. Finally, Stephens Inc. AR acquired a new stake in Covanta during the 2nd quarter worth about $280,000. 87.54% of the stock is currently owned by institutional investors.

Covanta Company Profile

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

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Analyst Recommendations for Covanta (NYSE:CVA)

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