Zacks Investment Research lowered shares of Casella Waste Systems (NASDAQ:CWST) from a buy rating to a hold rating in a research report report published on Wednesday.
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. “
CWST has been the topic of a number of other reports. BidaskClub raised Casella Waste Systems from a sell rating to a hold rating in a research report on Wednesday, September 5th. Raymond James lifted their target price on Casella Waste Systems from $33.00 to $35.00 and gave the stock a strong-buy rating in a research report on Friday, September 7th. Stifel Nicolaus downgraded Casella Waste Systems from a buy rating to a hold rating and set a $30.00 target price on the stock. in a research report on Monday, August 6th. They noted that the move was a valuation call. Finally, ValuEngine raised Casella Waste Systems from a buy rating to a strong-buy rating in a research report on Tuesday, September 11th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $31.50.
CWST stock traded up $0.02 during trading on Wednesday, reaching $31.95. 135,014 shares of the stock were exchanged, compared to its average volume of 269,539. Casella Waste Systems has a twelve month low of $18.98 and a twelve month high of $34.48. The company has a market cap of $1.34 billion, a PE ratio of 47.69 and a beta of 0.88.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Casella Waste Systems had a negative return on equity of 94.81% and a net margin of 6.30%. The firm had revenue of $172.83 million for the quarter, compared to analyst estimates of $172.77 million. During the same period last year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Casella Waste Systems will post 0.68 EPS for the current fiscal year.
In other Casella Waste Systems news, COO Edwin D. Johnson sold 20,000 shares of Casella Waste Systems stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $31.20, for a total transaction of $624,000.00. Following the sale, the chief operating officer now directly owns 345,317 shares of the company’s stock, valued at $10,773,890.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David L. Schmitt sold 10,000 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $32.30, for a total value of $323,000.00. Following the sale, the general counsel now directly owns 42,006 shares in the company, valued at $1,356,793.80. The disclosure for this sale can be found here. Insiders have sold 56,845 shares of company stock worth $1,710,613 over the last ninety days. Company insiders own 11.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in Casella Waste Systems during the second quarter valued at approximately $118,000. Integrated Investment Consultants LLC acquired a new stake in Casella Waste Systems during the second quarter valued at approximately $135,000. Acadian Asset Management LLC acquired a new stake in Casella Waste Systems during the third quarter valued at approximately $152,000. Sawtooth Solutions LLC acquired a new stake in Casella Waste Systems during the second quarter valued at approximately $212,000. Finally, Meeder Asset Management Inc. boosted its holdings in Casella Waste Systems by 328.5% during the second quarter. Meeder Asset Management Inc. now owns 8,921 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 6,839 shares in the last quarter. 83.96% of the stock is currently owned by institutional investors.
About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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