Casella Waste Systems Inc. (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

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 research reports about the company. KeyCorp raised their price objective on Casella Waste Systems from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, May 11th. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Barclays PLC assumed coverage on Casella Waste Systems in a research note on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $15.86.

Casella Waste Systems (CWST) traded up 1.49% during midday trading on Tuesday, reaching $17.08. The company’s stock had a trading volume of 342,782 shares. The firm has a market cap of $715.31 million, a P/E ratio of 1313.85 and a beta of 0.56. The firm has a 50 day moving average of $14.98 and a 200 day moving average of $13.46. Casella Waste Systems has a 52-week low of $8.10 and a 52-week high of $17.10.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. The firm had revenue of $133.80 million during the quarter, compared to analyst estimates of $128.33 million. During the same period last year, the business posted ($0.19) EPS. The company’s revenue was up 6.7% on a year-over-year basis. Analysts anticipate that Casella Waste Systems will post $0.54 earnings per share for the current fiscal year.

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In related news, COO Edwin D. Johnson sold 3,591 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total transaction of $60,400.62. Following the transaction, the chief operating officer now owns 269,500 shares of the company’s stock, valued at $4,532,990. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas R. Casella sold 2,166 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total value of $36,432.12. Following the transaction, the insider now directly owns 739,613 shares in the company, valued at approximately $12,440,290.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,102 shares of company stock worth $268,106. 11.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its position in shares of Casella Waste Systems by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 22,853 shares of the industrial products company’s stock valued at $322,000 after buying an additional 151 shares during the last quarter. Bogle Investment Management L P DE boosted its position in shares of Casella Waste Systems by 0.3% in the first quarter. Bogle Investment Management L P DE now owns 177,337 shares of the industrial products company’s stock valued at $2,502,000 after buying an additional 579 shares during the last quarter. ClariVest Asset Management LLC boosted its position in shares of Casella Waste Systems by 1.0% in the first quarter. ClariVest Asset Management LLC now owns 69,700 shares of the industrial products company’s stock valued at $984,000 after buying an additional 700 shares during the last quarter. American International Group Inc. boosted its position in shares of Casella Waste Systems by 7.1% in the first quarter. American International Group Inc. now owns 23,804 shares of the industrial products company’s stock valued at $336,000 after buying an additional 1,570 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its position in shares of Casella Waste Systems by 10.2% in the first quarter. CIBC World Markets Inc. now owns 19,193 shares of the industrial products company’s stock valued at $271,000 after buying an additional 1,778 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Casella Waste Systems (NASDAQ:CWST)

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