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Covanta Holding Corp (NYSE:CVA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, American Banking News.com reports. The firm currently has a $19.90 price objective on the stock. Zacks‘s price target would indicate a potential upside of 5.79% from the stock’s previous close.

Covanta Holding Corp (NYSE:CVA) traded up 0.64% during mid-day trading on Wednesday, hitting $18.81. The stock had a trading volume of 5,594,713 shares. Covanta Holding Corp has a 52 week low of $16.42 and a 52 week high of $21.89. The stock has a 50-day moving average of $17.87 and a 200-day moving average of $17.77. The company has a market cap of $2.426 billion and a price-to-earnings ratio of 283.18.

Covanta Holding Corp (NYSE:CVA) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.15) by $0.12. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $381.10 million. During the same quarter last year, the company posted ($0.21) earnings per share. Covanta Holding Corp’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Covanta Holding Corp will post $0.44 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on CVA. Analysts at Wedbush upgraded shares of Covanta Holding Corp from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $23.00 price target on the stock, up previously from $20.00. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Covanta Holding Corp in a research note on Thursday, April 24th. They now have a $20.00 price target on the stock. Finally, analysts at Imperial Capital reiterated an “in-line” rating on shares of Covanta Holding Corp in a research note on Thursday, April 24th. They now have a $19.50 price target on the stock. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.38.

Covanta Holding Corporation (NYSE:CVA) is a holding company.

To view Zacks’ full report, visit Zacks’ official website.

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