Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, January 9th.
According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a report on Wednesday, October 4th. KeyCorp reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. Finally, BidaskClub upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, December 29th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.00.
Casella Waste Systems (NASDAQ CWST) traded up $0.19 during midday trading on Tuesday, hitting $23.94. The stock had a trading volume of 159,600 shares, compared to its average volume of 201,380. The company has a market cap of $998.52, a P/E ratio of -18.42 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of -7.91. Casella Waste Systems has a 52-week low of $11.15 and a 52-week high of $24.16.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative return on equity of 56.99% and a negative net margin of 9.09%. The firm had revenue of $160.27 million for the quarter, compared to the consensus estimate of $154.61 million. During the same quarter in the previous year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. research analysts expect that Casella Waste Systems will post 0.64 EPS for the current fiscal year.
In related news, Director Gregory B. Peters sold 2,500 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $19.83, for a total transaction of $49,575.00. Following the completion of the sale, the director now directly owns 96,591 shares in the company, valued at approximately $1,915,399.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Heald sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $20.25, for a total value of $30,375.00. Following the sale, the vice president now owns 71,451 shares of the company’s stock, valued at $1,446,882.75. The disclosure for this sale can be found here. Insiders sold a total of 200,524 shares of company stock valued at $4,077,303 over the last quarter. Company insiders own 11.47% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased its position in Casella Waste Systems by 140.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock valued at $16,813,000 after buying an additional 599,264 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Casella Waste Systems during the 3rd quarter valued at about $10,017,000. Epoch Investment Partners Inc. increased its position in Casella Waste Systems by 171.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 637,775 shares of the industrial products company’s stock valued at $11,990,000 after buying an additional 403,224 shares in the last quarter. Renaissance Technologies LLC increased its position in Casella Waste Systems by 13.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,644,942 shares of the industrial products company’s stock valued at $43,403,000 after buying an additional 322,600 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Casella Waste Systems during the 2nd quarter valued at about $5,120,000. Hedge funds and other institutional investors own 79.30% of the company’s stock.
Casella Waste Systems Company Profile
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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