Casella Waste Systems, Inc. (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, October 17th.
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. “
A number of other equities research analysts have also recently commented on the company. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, October 13th. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a report on Wednesday, October 4th. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, Barclays PLC initiated coverage on Casella Waste Systems in a report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Casella Waste Systems presently has an average rating of “Hold” and an average price target of $16.83.
Shares of Casella Waste Systems (NASDAQ:CWST) traded up 4.06% on Tuesday, reaching $18.71. The company’s stock had a trading volume of 206,213 shares. The stock has a 50-day moving average of $18.00 and a 200 day moving average of $16.25. The company’s market cap is $786.49 million. Casella Waste Systems has a 52-week low of $10.65 and a 52-week high of $19.13.
Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. The firm had revenue of $154.02 million for the quarter, compared to analysts’ expectations of $149.88 million. During the same period last year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Casella Waste Systems will post $0.60 earnings per share for the current year.
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In other news, Director Michael K. Burke sold 31,500 shares of Casella Waste Systems stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $564,795.00. Following the sale, the director now owns 116,514 shares of the company’s stock, valued at approximately $2,089,096.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William P. Hulligan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $16.15, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 96,760 shares in the company, valued at approximately $1,562,674. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA raised its position in Casella Waste Systems by 206.2% in the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 4,922 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Casella Waste Systems in the first quarter valued at approximately $144,000. Simplex Trading LLC raised its position in Casella Waste Systems by 596.4% in the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 8,505 shares during the period. Karp Capital Management Corp purchased a new stake in Casella Waste Systems in the first quarter valued at approximately $163,000. Finally, Alliancebernstein L.P. purchased a new stake in Casella Waste Systems in the first quarter valued at approximately $164,000. 77.16% of the stock is currently owned by institutional investors.
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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