BidaskClub Upgrades Casella Waste Systems (CWST) to “Strong-Buy”

BidaskClub upgraded shares of Casella Waste Systems (NASDAQ:CWST) from a buy rating to a strong-buy rating in a research report released on Saturday, BidAskClub reports.

A number of other equities research analysts have also recently commented on the company. TheStreet upgraded Casella Waste Systems from a c rating to a b- rating in a report on Wednesday, May 1st. UBS Group increased their target price on Casella Waste Systems from $36.00 to $39.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Stifel Nicolaus upgraded Casella Waste Systems from a hold rating to a buy rating and increased their target price for the company from $35.00 to $40.00 in a report on Wednesday, May 1st. Zacks Investment Research upgraded Casella Waste Systems from a strong sell rating to a hold rating in a report on Tuesday, April 23rd. Finally, ValuEngine upgraded Casella Waste Systems from a buy rating to a strong-buy rating in a report on Thursday, February 28th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $37.50.

NASDAQ CWST opened at $38.13 on Friday. Casella Waste Systems has a 1-year low of $23.38 and a 1-year high of $39.31. The company has a market capitalization of $1.73 billion, a P/E ratio of 62.51 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 6.53.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $163.70 million during the quarter, compared to the consensus estimate of $161.77 million. Casella Waste Systems had a return on equity of 390.60% and a net margin of 1.27%. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Casella Waste Systems will post 0.79 EPS for the current fiscal year.

In other Casella Waste Systems news, CEO John W. Casella sold 60,733 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $34.60, for a total transaction of $2,101,361.80. Following the sale, the chief executive officer now owns 548,108 shares in the company, valued at approximately $18,964,536.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William P. Hulligan sold 10,000 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $35.70, for a total value of $357,000.00. Following the sale, the director now owns 49,484 shares in the company, valued at approximately $1,766,578.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 424,422 shares of company stock worth $14,797,659. 10.64% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Lisanti Capital Growth LLC boosted its holdings in shares of Casella Waste Systems by 0.3% during the fourth quarter. Lisanti Capital Growth LLC now owns 125,770 shares of the industrial products company’s stock worth $3,583,000 after purchasing an additional 385 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Casella Waste Systems by 0.4% during the first quarter. California Public Employees Retirement System now owns 111,984 shares of the industrial products company’s stock worth $3,982,000 after purchasing an additional 493 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Casella Waste Systems by 9.2% during the fourth quarter. Legal & General Group Plc now owns 7,288 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 615 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Casella Waste Systems by 7.8% during the fourth quarter. Citigroup Inc. now owns 14,497 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Casella Waste Systems by 12.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 13,701 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

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, Western, 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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