Stifel Nicolaus Upgrades Casella Waste Systems (CWST) to “Buy”

Casella Waste Systems (NASDAQ:CWST) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $28.00 target price on the industrial products company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 8.36% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 29th. Finally, KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, October 13th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.20.

Casella Waste Systems (CWST) traded down $0.31 during mid-day trading on Wednesday, hitting $25.84. 174,962 shares of the company were exchanged, compared to its average volume of 188,067. The company has a debt-to-equity ratio of -7.91, a quick ratio of 0.91 and a current ratio of 0.98. Casella Waste Systems has a 1-year low of $11.15 and a 1-year high of $27.38. The firm has a market cap of $1,099.42, a PE ratio of -19.88 and a beta of 0.72.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The business had revenue of $160.27 million for the quarter, compared to analysts’ expectations of $154.61 million. During the same quarter last year, the company earned $0.18 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts expect that Casella Waste Systems will post 0.66 earnings per share for the current fiscal year.

In other Casella Waste Systems news, Director Gregory B. Peters sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $19.83, for a total value of $49,575.00. Following the completion of the transaction, the director now directly owns 96,591 shares in the company, valued at $1,915,399.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Casella sold 62,433 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $19.31, for a total transaction of $1,205,581.23. Following the completion of the transaction, the chief executive officer now owns 472,112 shares of the company’s stock, valued at $9,116,482.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,524 shares of company stock valued at $4,077,303. Corporate insiders own 11.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Casella Waste Systems in the fourth quarter worth approximately $7,653,000. Boston Advisors LLC lifted its position in shares of Casella Waste Systems by 31.0% in the fourth quarter. Boston Advisors LLC now owns 319,850 shares of the industrial products company’s stock worth $7,363,000 after purchasing an additional 75,630 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Casella Waste Systems by 1.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 197,032 shares of the industrial products company’s stock worth $4,536,000 after purchasing an additional 2,458 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Casella Waste Systems by 15.7% in the third quarter. California Public Employees Retirement System now owns 128,899 shares of the industrial products company’s stock worth $2,423,000 after purchasing an additional 17,499 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Casella Waste Systems in the third quarter worth approximately $4,529,000. Institutional investors own 78.69% of the company’s stock.

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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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