Casella Waste Systems (NASDAQ:CWST) Shares Down 5.3% – What’s Next?

Casella Waste Systems, Inc. (NASDAQ:CWST) shares were down 5.3% during mid-day trading on Tuesday . The stock traded as low as $89.92 and last traded at $90.6630. Approximately 166,781 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 734,366 shares. The stock had previously closed at $95.75.

Analyst Ratings Changes

A number of research firms recently weighed in on CWST. Jefferies Financial Group set a $120.00 target price on shares of Casella Waste Systems and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $115.00 price target on shares of Casella Waste Systems in a report on Monday, February 23rd. Barclays increased their price objective on shares of Casella Waste Systems from $95.00 to $101.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Weiss Ratings cut shares of Casella Waste Systems from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.22.

Casella Waste Systems Stock Performance

The firm has a 50 day moving average of $100.60 and a two-hundred day moving average of $95.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $5.75 billion, a PE ratio of 755.97 and a beta of 0.80.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.30 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $471.32 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Research analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, CAO Kevin Drohan sold 675 shares of Casella Waste Systems stock in a transaction on Friday, February 27th. The shares were sold at an average price of $92.61, for a total value of $62,511.75. Following the transaction, the chief accounting officer directly owned 7,462 shares in the company, valued at approximately $691,055.82. The trade was a 8.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Edmond Coletta sold 3,812 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $93.70, for a total value of $357,184.40. Following the completion of the transaction, the president owned 147,091 shares in the company, valued at $13,782,426.70. This trade represents a 2.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,213 shares of company stock valued at $1,045,887 in the last ninety days. Insiders own 3.81% of the company’s stock.

Institutional Investors Weigh In On Casella Waste Systems

Several hedge funds have recently modified their holdings of CWST. Hilton Head Capital Partners LLC acquired a new position in Casella Waste Systems in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Casella Waste Systems by 180.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 191 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Casella Waste Systems by 301.6% in the first 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. Los Angeles Capital Management LLC purchased a new stake in shares of Casella Waste Systems in the fourth quarter valued at about $27,000. Finally, First Horizon Corp acquired a new position in shares of Casella Waste Systems during the third quarter worth about $31,000. 99.51% of the stock is owned by institutional investors and hedge funds.

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.