Covanta Holding Corporation (NYSE:CVA) has received an average rating of “Hold” from the nine analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.42.

A number of brokerages have recently commented on CVA. Zacks Investment Research raised Covanta from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub downgraded Covanta from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Robert W. Baird reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Covanta in a research report on Friday, September 1st. BMO Capital Markets lifted their price objective on Covanta from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Covanta in a research report on Tuesday, September 5th.

In other Covanta news, Director John Vincent Hickey sold 90,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.29, for a total transaction of $26,100.00. 11.60% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of CVA. Quantbot Technologies LP purchased a new stake in Covanta during the second quarter valued at about $107,000. IFP Advisors Inc grew its position in Covanta by 42.1% during the second quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock valued at $118,000 after acquiring an additional 2,647 shares during the period. Connable Office Inc. purchased a new stake in Covanta during the second quarter valued at about $133,000. ProShare Advisors LLC purchased a new stake in Covanta during the second quarter valued at about $147,000. Finally, Verition Fund Management LLC boosted its position in shares of Covanta by 9.7% in the second quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after buying an additional 1,039 shares during the period. 94.77% of the stock is owned by hedge funds and other institutional investors.

Covanta (NYSE CVA) opened at $14.75 on Thursday. Covanta has a 1-year low of $13.00 and a 1-year high of $16.50. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39.

Covanta (NYSE:CVA) last released its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Covanta had a negative return on equity of 12.66% and a negative net margin of 3.68%. The company had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $421.87 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities analysts anticipate that Covanta will post -0.26 EPS for the current fiscal year.

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About Covanta

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 (NYSE:CVA)

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