Casella Waste Systems, Inc. (CWST) Stock Rating Reaffirmed by KeyCorp
Casella Waste Systems, Inc. (NASDAQ:CWST)‘s stock had its “buy” rating restated by KeyCorp in a note issued to investors on Friday. KeyCorp also issued estimates for Casella Waste Systems’ Q1 2018 earnings at $0.04 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.28 EPS and FY2019 earnings at $0.89 EPS.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Friday, July 7th. Stifel Nicolaus reissued a “buy” rating and issued a $16.00 price target on shares of Casella Waste Systems in a report on Wednesday, July 19th. Finally, BidaskClub raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.83.
Casella Waste Systems (NASDAQ CWST) traded up $1.06 on Friday, reaching $19.34. 554,058 shares of the company’s stock were exchanged, compared to its average volume of 355,095. The firm has a market capitalization of $869.28 million, a PE ratio of 33.90 and a beta of 0.69. The company has a debt-to-equity ratio of -6.67, a quick ratio of 0.99 and a current ratio of 1.06.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The firm had revenue of $160.27 million for the quarter, compared to analyst estimates of $154.61 million. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 63.87%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. equities research analysts expect that Casella Waste Systems will post 0.56 earnings per share for the current fiscal year.
In other news, Director William P. Hulligan sold 20,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $16.15, for a total value of $323,000.00. Following the sale, the director now owns 96,760 shares in the company, valued at approximately $1,562,674. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael K. Burke sold 31,500 shares of the company’s 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 transaction, the director now owns 116,514 shares in the company, valued at approximately $2,089,096.02. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CWST. Macquarie Group Ltd. lifted its position in Casella Waste Systems by 140.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock worth $16,813,000 after buying an additional 599,264 shares in the last quarter. Wellington Management Group LLP acquired a new position in Casella Waste Systems during the 1st quarter worth about $6,461,000. Renaissance Technologies LLC lifted its position in Casella Waste Systems by 13.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,644,942 shares of the industrial products company’s stock worth $43,403,000 after buying an additional 322,600 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Casella Waste Systems during the 2nd quarter worth about $5,120,000. Finally, Boston Advisors LLC acquired a new position in Casella Waste Systems during the 3rd quarter worth about $4,591,000. Institutional investors and hedge funds own 77.14% of the company’s stock.
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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