Casella Waste Systems, Inc. (CWST) Rating Increased to Hold at 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 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. “
A number of other analysts have also issued reports on CWST. Stifel Nicolaus reiterated a “buy” rating and set a $16.00 price objective on shares of Casella Waste Systems in a report on Wednesday, July 19th. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.83.
Shares of Casella Waste Systems (NASDAQ CWST) traded down $0.44 during mid-day trading on Tuesday, reaching $19.26. The company had a trading volume of 375,958 shares, compared to its average volume of 355,048. Casella Waste Systems has a 1-year low of $11.00 and a 1-year high of $20.90. The company has a market cap of $817.75, a price-to-earnings ratio of 31.70 and a beta of 0.69. The company has a debt-to-equity ratio of -7.91, a current ratio of 0.98 and a quick ratio of 0.91.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $160.27 million during the quarter, compared to analyst estimates of $154.61 million. Casella Waste Systems had a negative return on equity of 56.99% and a negative net margin of 9.09%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. sell-side analysts forecast that Casella Waste Systems will post 0.56 EPS for the current fiscal year.
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In other news, Director Michael K. Burke sold 31,500 shares of Casella Waste Systems stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $17.93, for a total value of $564,795.00. Following the completion of the transaction, the director now owns 116,514 shares in the company, valued at $2,089,096.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CWST. Bank of Montreal Can grew its holdings in Casella Waste Systems by 197.6% during the 1st quarter. Bank of Montreal Can now owns 20,864 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 13,853 shares during the period. Wells Fargo & Company MN grew its holdings in Casella Waste Systems by 18.9% during the 4th quarter. Wells Fargo & Company MN now owns 209,837 shares of the industrial products company’s stock worth $1,255,000 after acquiring an additional 33,420 shares during the period. AXA acquired a new stake in Casella Waste Systems during the 1st quarter worth $612,000. Skylands Capital grew its holdings in shares of Casella Waste Systems by 19.7% in the 4th quarter. Skylands Capital now owns 949,700 shares of the industrial products company’s stock valued at $5,679,000 after buying an additional 156,100 shares during the period. Finally, Skylands Capital LLC grew its holdings in shares of Casella Waste Systems by 12.2% in the 2nd quarter. Skylands Capital LLC now owns 1,589,712 shares of the industrial products company’s stock valued at $12,479,000 after buying an additional 173,062 shares during the period. Hedge funds and other institutional investors own 77.17% 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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