Casella Waste Systems, Inc. (NASDAQ:CWST) Receives $122.67 Consensus PT from Brokerages

Casella Waste Systems, Inc. (NASDAQ:CWST) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $122.67.

A number of equities research analysts recently weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Raymond James Financial reiterated a “strong-buy” rating on shares of Casella Waste Systems in a research report on Wednesday, April 16th. TD Cowen started coverage on shares of Casella Waste Systems in a research report on Wednesday, April 9th. They set a “buy” rating and a $130.00 price target on the stock. Finally, UBS Group increased their price target on shares of Casella Waste Systems from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, April 11th.

Insider Buying and Selling at Casella Waste Systems

In other news, SVP Paul Ligon sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total value of $237,340.00. Following the transaction, the senior vice president now owns 20,347 shares in the company, valued at approximately $2,414,578.49. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Edmond Coletta sold 5,562 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the transaction, the president now owns 150,093 shares in the company, valued at $17,888,083.74. This represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sheets Smith Wealth Management lifted its stake in Casella Waste Systems by 3.9% in the first quarter. Sheets Smith Wealth Management now owns 2,767 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 103 shares during the period. Moors & Cabot Inc. lifted its stake in Casella Waste Systems by 4.4% in the first quarter. Moors & Cabot Inc. now owns 2,469 shares of the industrial products company’s stock worth $275,000 after acquiring an additional 105 shares during the period. Benjamin Edwards Inc. lifted its stake in Casella Waste Systems by 1.0% in the first quarter. Benjamin Edwards Inc. now owns 10,998 shares of the industrial products company’s stock worth $1,226,000 after acquiring an additional 110 shares during the period. Signaturefd LLC lifted its stake in Casella Waste Systems by 16.4% in the fourth quarter. Signaturefd LLC now owns 802 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 113 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in Casella Waste Systems by 2.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,388 shares of the industrial products company’s stock worth $676,000 after acquiring an additional 134 shares during the period. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Trading Down 2.8%

Shares of CWST opened at $114.42 on Monday. The firm’s 50 day simple moving average is $116.32 and its 200 day simple moving average is $111.72. The company has a market capitalization of $7.26 billion, a P/E ratio of 520.11, a P/E/G ratio of 4.30 and a beta of 0.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.96 and a quick ratio of 1.87. Casella Waste Systems has a 1-year low of $91.01 and a 1-year high of $121.24.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The business had revenue of $417.10 million for the quarter, compared to the consensus estimate of $403.64 million. Casella Waste Systems had a net margin of 0.79% and a return on equity of 4.69%. Casella Waste Systems’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. Sell-side analysts forecast that Casella Waste Systems will post 1.16 earnings per share for the current fiscal year.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.