Casella Waste Systems, Inc. (NASDAQ:CWST) Upgraded to “Hold” by Zacks Investment Research
Casella Waste Systems, Inc. (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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. “
CWST has been the topic of several other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $16.00 target price on shares of Casella Waste Systems in a report on Wednesday, July 19th. BidaskClub downgraded Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Barclays PLC began coverage on Casella Waste Systems in a research note on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, KeyCorp boosted 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Casella Waste Systems presently has a consensus rating of “Hold” and a consensus price target of $17.00.
Shares of Casella Waste Systems (NASDAQ CWST) traded up 2.55% during mid-day trading on Friday, reaching $16.06. The company had a trading volume of 343,447 shares. The firm’s 50 day moving average is $16.60 and its 200-day moving average is $14.17. The stock’s market capitalization is $659.23 million. Casella Waste Systems has a 12-month low of $8.75 and a 12-month high of $17.73.
Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $154.02 million for the quarter, compared to the consensus estimate of $149.88 million. Casella Waste Systems had a negative return on equity of 99.93% and a negative net margin of 10.01%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. On average, analysts expect that Casella Waste Systems will post $0.59 earnings per share for the current fiscal year.
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In other news, COO Edwin D. Johnson sold 3,591 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total value of $60,400.62. Following the transaction, the chief operating officer now directly owns 269,500 shares of the company’s stock, valued at approximately $4,532,990. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Casella sold 7,817 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total value of $131,481.94. Following the completion of the transaction, the chief executive officer now directly owns 507,912 shares in the company, valued at $8,543,079.84. The disclosure for this sale can be found here. Insiders sold a total of 16,102 shares of company stock worth $268,106 over the last three months. 11.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CWST. BNP Paribas Arbitrage SA raised its stake in shares of Casella Waste Systems by 206.2% in the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after buying an additional 4,922 shares during the last quarter. Teton Advisors Inc. increased its position in shares of Casella Waste Systems by 1.6% in the second quarter. Teton Advisors Inc. now owns 603,828 shares of the industrial products company’s stock worth $9,909,000 after buying an additional 9,700 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Casella Waste Systems by 18.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,100 shares of the industrial products company’s stock valued at $1,381,000 after buying an additional 13,000 shares during the last quarter. Sei Investments Co. increased its position in Casella Waste Systems by 137.2% in the second quarter. Sei Investments Co. now owns 130,182 shares of the industrial products company’s stock valued at $2,137,000 after buying an additional 75,293 shares during the last quarter. Finally, Suffolk Capital Management LLC purchased a new position in Casella Waste Systems during the second quarter valued at approximately $909,000. 75.19% of the stock is currently owned by institutional investors.
About Casella Waste Systems
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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