Zacks Investment Research Upgrades Casella Waste Systems (CWST) to “Hold”

Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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. “

Other research analysts have also issued research reports about the stock. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, November 3rd. Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research note on Wednesday, October 4th. Finally, BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 29th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $19.00.

Shares of Casella Waste Systems (NASDAQ CWST) traded down $0.06 on Tuesday, hitting $23.17. 103,300 shares of the stock traded hands, compared to its average volume of 230,914. Casella Waste Systems has a 52 week low of $11.15 and a 52 week high of $23.78. The firm has a market cap of $988.87, a price-to-earnings ratio of -17.82 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of -7.91.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The company had revenue of $160.27 million for the quarter, compared to analyst estimates of $154.61 million. During the same quarter in the prior year, the business posted $0.18 EPS. Casella Waste Systems’s quarterly revenue was up 6.0% on a year-over-year basis. research analysts anticipate that Casella Waste Systems will post 0.64 EPS for the current year.

In related news, COO Edwin D. Johnson sold 99,091 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $21.01, for a total value of $2,081,901.91. Following the transaction, the chief operating officer now directly owns 469,500 shares in the company, valued at approximately $9,864,195. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James F. Callahan, Jr. sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $21.00, for a total transaction of $315,000.00. Following the completion of the transaction, the director now owns 78,102 shares in the company, valued at $1,640,142. The disclosure for this sale can be found here. Insiders sold a total of 200,524 shares of company stock worth $4,077,303 over the last quarter. 11.47% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in Casella Waste Systems by 206.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock valued at $120,000 after buying an additional 4,922 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Casella Waste Systems in the 2nd quarter valued at $186,000. Tudor Investment Corp ET AL grew its stake in Casella Waste Systems by 24.5% in the 2nd quarter. Tudor Investment Corp ET AL now owns 13,374 shares of the industrial products company’s stock valued at $219,000 after buying an additional 2,633 shares during the last quarter. Voya Investment Management LLC acquired a new position in Casella Waste Systems in the 2nd quarter valued at $274,000. Finally, AXA grew its stake in Casella Waste Systems by 24.7% in the 2nd quarter. AXA now owns 22,690 shares of the industrial products company’s stock valued at $372,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.

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About Casella Waste Systems

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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