Casella Waste Systems, Inc. (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

A number of other equities analysts also recently weighed in on CWST. BidaskClub downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $16.00 target price on shares of Casella Waste Systems in a report on Wednesday. Barclays PLC began coverage on shares of Casella Waste Systems in a report on Friday, June 23rd. They set an “overweight” rating and a $19.00 target price on the stock. Finally, KeyCorp boosted their target price on shares of Casella Waste Systems from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.86.

Casella Waste Systems (CWST) traded down 3.31% on Wednesday, reaching $16.66. 396,269 shares of the company’s stock traded hands. The firm has a market cap of $697.72 million, a price-to-earnings ratio of 1281.54 and a beta of 0.56. Casella Waste Systems has a 52-week low of $8.63 and a 52-week high of $17.73. The stock’s 50 day moving average is $16.11 and its 200 day moving average is $13.90.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. The company had revenue of $133.80 million for the quarter, compared to the consensus estimate of $128.33 million. Casella Waste Systems had a net margin of 0.09% and a negative return on equity of 73.05%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. On average, equities research analysts predict that Casella Waste Systems will post $0.59 EPS for the current fiscal year.

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In other Casella Waste Systems news, COO Edwin D. Johnson sold 3,591 shares of Casella Waste Systems stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total transaction of $60,400.62. Following the completion of the transaction, the chief operating officer now directly owns 269,500 shares of the company’s stock, valued at $4,532,990. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Douglas R. Casella sold 2,166 shares of Casella Waste Systems stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total transaction of $36,432.12. Following the transaction, the insider now directly owns 739,613 shares of the company’s stock, valued at $12,440,290.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,102 shares of company stock worth $268,106. 11.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CWST. Bank of New York Mellon Corp boosted its position in Casella Waste Systems by 25.3% in the first quarter. Bank of New York Mellon Corp now owns 414,241 shares of the industrial products company’s stock worth $5,845,000 after buying an additional 83,729 shares during the period. Tygh Capital Management Inc. boosted its position in Casella Waste Systems by 25.8% in the first quarter. Tygh Capital Management Inc. now owns 312,128 shares of the industrial products company’s stock worth $4,404,000 after buying an additional 64,006 shares during the period. State Board of Administration of Florida Retirement System boosted its position in 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 worth $322,000 after buying an additional 151 shares during the period. 361 Capital LLC bought a new position in Casella Waste Systems during the first quarter worth approximately $196,000. Finally, Monarch Partners Asset Management LLC boosted its position in Casella Waste Systems by 88.8% in the first quarter. Monarch Partners Asset Management LLC now owns 480,723 shares of the industrial products company’s stock worth $6,783,000 after buying an additional 226,090 shares during the period. 75.71% of the stock is owned by hedge funds and other 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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