JPMorgan Chase & Co. Cuts Casella Waste Systems (NASDAQ:CWST) Price Target to $105.00

Casella Waste Systems (NASDAQ:CWST) had its price target decreased by JPMorgan Chase & Co. from $110.00 to $105.00 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

CWST has been the topic of several other reports. UBS Group cut their price objective on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Barclays increased their price target on shares of Casella Waste Systems from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Casella Waste Systems Trading Down 2.1%

Casella Waste Systems stock opened at $90.56 on Monday. Casella Waste Systems has a 12 month low of $74.05 and a 12 month high of $107.96. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 1,006.33 and a beta of 0.74. The business’s fifty day simple moving average is $91.61 and its two-hundred day simple moving average is $90.11. The company has a current ratio of 0.99, a quick ratio of 1.38 and a debt-to-equity ratio of 0.84.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $543.75 million during the quarter, compared to the consensus estimate of $526.43 million. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.The company’s revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. As a group, equities analysts predict that Casella Waste Systems will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at $12,548,968.08. This trade represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael K. Burke sold 2,305 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the sale, the director directly owned 14,048 shares in the company, valued at approximately $1,230,042.88. The trade was a 14.10% decrease in their position. The SEC filing for this sale provides additional information. 3.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new stake in Casella Waste Systems in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after buying an additional 184 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Casella Waste Systems during the 4th quarter valued at $27,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Casella Waste Systems in the 2nd quarter worth $29,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Casella Waste Systems by 41.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock worth $33,000 after buying an additional 98 shares during the last quarter. Institutional investors 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.