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

Several other equities analysts also recently weighed in on CWST. Barclays PLC initiated 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 for the company. BidaskClub downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Stifel Nicolaus reiterated a “buy” rating and set a $16.00 price target on shares of Casella Waste Systems in a report on Wednesday, July 19th. Finally, KeyCorp reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.83.

Casella Waste Systems (CWST) traded up 0.22% during trading on Tuesday, reaching $17.93. 242,151 shares of the company were exchanged. The stock has a 50 day moving average price of $17.80 and a 200 day moving average price of $16.03. Casella Waste Systems has a 12 month low of $10.44 and a 12 month high of $19.13. The firm’s market capitalization is $753.71 million.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $154.02 million for the quarter, compared to analysts’ expectations of $149.88 million. During the same quarter last year, the business posted $0.12 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that Casella Waste Systems will post $0.61 EPS for the current fiscal year.

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In other news, Director William P. Hulligan sold 20,000 shares of Casella Waste Systems stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $16.15, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 96,760 shares in the company, valued at $1,562,674. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael K. Burke sold 31,500 shares of Casella Waste Systems stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $564,795.00. Following the sale, the director now owns 116,514 shares of the company’s stock, valued at $2,089,096.02. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY grew its holdings in shares of Casella Waste Systems by 0.5% during the first quarter. Metropolitan Life Insurance Co. NY now owns 29,977 shares of the industrial products company’s stock worth $201,000 after buying an additional 137 shares in the last quarter. 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 worth $322,000 after acquiring 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 worth $2,502,000 after acquiring 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 worth $984,000 after acquiring an additional 700 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its position in shares of Casella Waste Systems by 0.8% in the second quarter. I.G. Investment Management LTD. now owns 83,556 shares of the industrial products company’s stock worth $656,000 after acquiring an additional 701 shares during the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.

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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