Covanta Holding Corporation (NYSE:CVA) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus upgraded Covanta Holding Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $15.50 to $17.00 in a report on Monday, July 31st. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Covanta Holding Corporation in a research note on Monday, July 17th. BMO Capital Markets started coverage on Covanta Holding Corporation in a research note on Thursday, June 29th. They set a “market perform” rating and a $16.00 price target on the stock. Robert W. Baird upgraded Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target on the stock in a research note on Monday, May 15th. Finally, Barclays PLC upgraded Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $17.28.

Covanta Holding Corporation (NYSE:CVA) traded down 2.12% on Friday, hitting $13.85. 1,188,443 shares of the company were exchanged. The stock’s market capitalization is $1.80 billion. Covanta Holding Corporation has a 52-week low of $13.00 and a 52-week high of $16.50. The stock’s 50-day moving average price is $13.79 and its 200-day moving average price is $14.77.

Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.04. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Covanta Holding Corporation will post ($0.23) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Covanta Holding Corporation (CVA) Rating Lowered to Sell at BidaskClub” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/08/13/covanta-holding-corporation-cva-rating-lowered-to-sell-at-bidaskclub.html.

In other Covanta Holding Corporation news, insider Paul E. Stauder sold 2,500 shares of Covanta Holding Corporation stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $14.50, for a total value of $36,250.00. Following the transaction, the insider now directly owns 30,639 shares in the company, valued at approximately $444,265.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in shares of Covanta Holding Corporation by 4.5% in the first quarter. Advisors Asset Management Inc. now owns 1,692,909 shares of the energy company’s stock valued at $26,579,000 after buying an additional 73,090 shares during the period. First Trust Advisors LP increased its position in shares of Covanta Holding Corporation by 1,516.1% in the first quarter. First Trust Advisors LP now owns 442,867 shares of the energy company’s stock valued at $6,953,000 after buying an additional 415,464 shares during the period. OLD National Bancorp IN increased its position in shares of Covanta Holding Corporation by 46.1% in the first quarter. OLD National Bancorp IN now owns 30,668 shares of the energy company’s stock valued at $481,000 after buying an additional 9,677 shares during the period. Wells Fargo & Company MN increased its position in shares of Covanta Holding Corporation by 17.3% in the first quarter. Wells Fargo & Company MN now owns 566,739 shares of the energy company’s stock valued at $8,898,000 after buying an additional 83,547 shares during the period. Finally, Miller Howard Investments Inc. NY increased its position in shares of Covanta Holding Corporation by 3.9% in the first quarter. Miller Howard Investments Inc. NY now owns 1,416,139 shares of the energy company’s stock valued at $22,233,000 after buying an additional 52,961 shares during the period. Institutional investors own 90.04% of the company’s stock.

Covanta Holding Corporation Company Profile

Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.

Analyst Recommendations for Covanta Holding Corporation (NYSE:CVA)

Receive News & Ratings for Covanta Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covanta Holding Corporation and related companies with MarketBeat.com's FREE daily email newsletter.