Casella Waste Systems, Inc. (NASDAQ:CWST) Receives $109.75 Average Price Target from Brokerages

Casella Waste Systems, Inc. (NASDAQ:CWST) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $112.8571.

Several brokerages have issued reports on CWST. Zacks Research upgraded Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. UBS Group dropped their target price on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a report on Friday, June 26th. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Weiss Ratings raised Casella Waste Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Finally, Barclays raised their target price on shares of Casella Waste Systems from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 10th.

Casella Waste Systems Trading Down 1.5%

Shares of CWST stock opened at $85.76 on Wednesday. Casella Waste Systems has a fifty-two week low of $74.05 and a fifty-two week high of $107.96. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average is $91.53 and its two-hundred day moving average is $88.31. The firm has a market capitalization of $5.46 billion, a P/E ratio of 952.99 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $543.75 million during the quarter, compared to analysts’ expectations of $526.43 million. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Research analysts expect that Casella Waste Systems will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In related news, Director Douglas R. Casella sold 15,157 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $91.05, for a total value of $1,380,044.85. Following the transaction, the director owned 91,484 shares in the company, valued at $8,329,618.20. The trade was a 14.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael K. Burke sold 1,100 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total transaction of $104,786.00. Following the completion of the sale, the director owned 13,641 shares of the company’s stock, valued at approximately $1,299,441.66. The trade was a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,700 shares of company stock worth $1,709,494 in the last three months. 3.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP raised its position in shares of Casella Waste Systems by 36.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,531,594 shares of the industrial products company’s stock worth $342,459,000 after purchasing an additional 949,374 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Casella Waste Systems by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,804,475 shares of the industrial products company’s stock valued at $222,507,000 after purchasing an additional 27,148 shares in the last quarter. Capital Research Global Investors increased its holdings in Casella Waste Systems by 23.7% in the fourth quarter. Capital Research Global Investors now owns 2,488,034 shares of the industrial products company’s stock valued at $243,678,000 after buying an additional 477,216 shares during the last quarter. Capital International Investors increased its stake in Casella Waste Systems by 2.1% during the fourth quarter. Capital International Investors now owns 1,998,409 shares of the industrial products company’s stock valued at $195,724,000 after purchasing an additional 41,447 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Casella Waste Systems by 1.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,665,226 shares of the industrial products company’s stock worth $163,092,000 after acquiring an additional 17,319 shares during the period. 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 solid waste services company headquartered in Rutland, Vermont. Founded in 1975, the company provides waste collection, transfer, disposal, recycling and resource-recovery services to residential, commercial, industrial and municipal customers.

Casella’s services include curbside and commercial waste collection, construction and demolition debris management, transfer station operations, recycling of paper, cardboard, plastics and other materials, and organics recycling.