JPMorgan Chase & Co. Lowers Casella Waste Systems (NASDAQ:CWST) Price Target to $110.00

Casella Waste Systems (NASDAQ:CWST) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $112.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.55% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $115.00 price objective on shares of Casella Waste Systems in a research note on Monday. UBS Group upped their price objective on shares of Casella Waste Systems from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Casella Waste Systems in a research report on Monday, December 29th. Zacks Research upgraded shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Barclays upped their price objective on Casella Waste Systems from $95.00 to $101.00 and gave the stock an “equal weight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.22.

Casella Waste Systems Stock Performance

Shares of NASDAQ:CWST traded down $1.88 during mid-day trading on Monday, reaching $93.58. The company had a trading volume of 708,778 shares, compared to its average volume of 625,514. Casella Waste Systems has a one year low of $82.22 and a one year high of $121.24. The company has a current ratio of 1.26, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $102.19 and its 200-day moving average price is $96.18. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 782.62 and a beta of 0.79.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. Casella Waste Systems had a net margin of 0.43% and a return on equity of 5.17%. The company had revenue of $469.06 million during the quarter, compared to the consensus estimate of $471.32 million. During the same period last year, the firm earned $0.41 EPS. Casella Waste Systems’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Casella Waste Systems will post 1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Casella Waste Systems

Several hedge funds have recently made changes to their positions in CWST. Caitong International Asset Management Co. Ltd lifted its stake in shares of Casella Waste Systems by 325.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 217 shares of the industrial products company’s stock worth $25,000 after buying an additional 166 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 184 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Casella Waste Systems during the 4th quarter valued at $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Casella Waste Systems in the 4th quarter worth $27,000. Finally, AlphaQuest LLC purchased a new position in shares of Casella Waste Systems in the second quarter worth $33,000. 99.51% of the stock is owned by hedge funds and other institutional investors.

About Casella Waste Systems

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.