Casella Waste Systems, Inc. (NASDAQ:CWST) Sees Large Growth in Short Interest

Casella Waste Systems, Inc. (NASDAQ:CWST) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 4,621,943 shares, an increase of 27.7% from the December 15th total of 3,619,789 shares. Currently, 7.6% of the shares of the company are sold short. Based on an average trading volume of 1,842,841 shares, the days-to-cover ratio is currently 2.5 days. Based on an average trading volume of 1,842,841 shares, the days-to-cover ratio is currently 2.5 days. Currently, 7.6% of the shares of the company are sold short.

Casella Waste Systems Stock Down 0.7%

Shares of CWST stock opened at $105.45 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 1.51. The business’s fifty day moving average is $97.67 and its 200-day moving average is $97.00. Casella Waste Systems has a 1 year low of $82.22 and a 1 year high of $121.24. The stock has a market cap of $6.70 billion, a PE ratio of 439.39 and a beta of 0.80.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The company had revenue of $485.35 million during the quarter, compared to the consensus estimate of $477.24 million. Casella Waste Systems had a net margin of 0.85% and a return on equity of 5.63%. Casella Waste Systems’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. Equities analysts expect that Casella Waste Systems will post 1.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Casella Waste Systems in a research note on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $120.00 price target on shares of Casella Waste Systems in a report on Monday, November 3rd. Stifel Nicolaus assumed coverage on Casella Waste Systems in a research note on Monday, September 29th. They set a “buy” rating and a $113.00 price objective for the company. UBS Group raised their target price on Casella Waste Systems from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Zacks Research raised shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Institutional Investors Weigh In On Casella Waste Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in shares of Casella Waste Systems by 1,106.7% in the 2nd quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company’s stock worth $100,067,000 after acquiring an additional 795,414 shares during the last quarter. Capital Research Global Investors increased its stake in Casella Waste Systems by 39.3% in the 3rd quarter. Capital Research Global Investors now owns 2,010,818 shares of the industrial products company’s stock worth $190,786,000 after purchasing an additional 566,887 shares in the last quarter. Norges Bank purchased a new position in Casella Waste Systems in the 2nd quarter worth about $55,948,000. Invesco Ltd. raised its holdings in Casella Waste Systems by 20.0% during the 2nd quarter. Invesco Ltd. now owns 2,597,599 shares of the industrial products company’s stock worth $299,711,000 after buying an additional 432,589 shares during the period. Finally, Wasatch Advisors LP lifted its stake in Casella Waste Systems by 14.4% during the second quarter. Wasatch Advisors LP now owns 3,412,123 shares of the industrial products company’s stock valued at $393,691,000 after buying an additional 428,909 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.