Casella Waste Systems, Inc. (NASDAQ:CWST) Receives Average Recommendation of “Moderate Buy” from Brokerages

Casella Waste Systems, Inc. (NASDAQ:CWST) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $110.1250.

Several research firms have commented on CWST. UBS Group decreased their price target on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Zacks Research cut shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 9th. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $101.00 to $102.00 in a research note on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd.

Casella Waste Systems Trading Up 2.2%

Shares of NASDAQ:CWST opened at $97.49 on Friday. Casella Waste Systems has a 12-month low of $74.05 and a 12-month high of $114.12. The business’s fifty day simple moving average is $86.37 and its 200-day simple moving average is $91.77. The company has a market capitalization of $6.20 billion, a PE ratio of 886.35 and a beta of 0.74. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. As a group, equities research analysts predict that Casella Waste Systems will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the completion of the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at $12,548,968.08. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the transaction, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Casella Waste Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Casella Waste Systems during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. raised its position in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 184 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Casella Waste Systems in the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in Casella Waste Systems by 41.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 98 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in Casella Waste Systems in the 4th quarter worth approximately $43,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.