Covanta Holding Corporation (NYSE:CVA) had its price target lifted by BMO Capital Markets from $17.00 to $20.00 in a research report issued on Monday. The firm presently has an “outperform” rating on the energy company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 23.08% from the company’s previous close.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Covanta Holding Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Monday, October 9th. Robert W. Baird reissued a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research report on Friday, October 6th. Stifel Nicolaus raised Covanta Holding Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $15.50 to $17.00 in a research report on Monday, July 31st. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Finally, BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $17.44.

Covanta Holding Corporation (NYSE CVA) traded up 1.88% during trading on Monday, reaching $16.25. The company’s stock had a trading volume of 1,391,311 shares. The firm’s 50-day moving average price is $15.00 and its 200 day moving average price is $14.37. The company’s market capitalization is $2.11 billion. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last issued its earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The business had revenue of $429.00 million during the quarter, compared to analyst estimates of $421.87 million. Covanta Holding Corporation had a negative return on equity of 12.12% and a negative net margin of 3.68%. Covanta Holding Corporation’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. On average, analysts predict that Covanta Holding Corporation will post ($0.24) earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in CVA. BlackRock Inc. increased its position in Covanta Holding Corporation by 17,486.2% during the 1st quarter. BlackRock Inc. now owns 5,904,931 shares of the energy company’s stock valued at $92,706,000 after buying an additional 5,871,354 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in Covanta Holding Corporation by 41.7% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock valued at $41,976,000 after buying an additional 936,309 shares in the last quarter. State Street Corp increased its position in Covanta Holding Corporation by 46.7% during the 2nd quarter. State Street Corp now owns 2,510,700 shares of the energy company’s stock valued at $33,146,000 after buying an additional 799,767 shares in the last quarter. Wells Fargo & Company MN increased its position in Covanta Holding Corporation by 112.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,206,528 shares of the energy company’s stock valued at $15,927,000 after buying an additional 639,789 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Covanta Holding Corporation by 11.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock valued at $76,790,000 after buying an additional 616,425 shares in the last quarter. 96.57% of the stock is currently owned by institutional investors.

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)

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