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

Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, January 9th.

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. “

Several other equities analysts also recently weighed in on CWST. BidaskClub upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 29th. Stifel Nicolaus reiterated a “hold” rating and set a $22.00 target price on shares of Casella Waste Systems in a research report on Thursday, January 4th. Finally, KeyCorp reiterated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, November 3rd. Three equities research 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’s stock. Casella Waste Systems presently has a consensus rating of “Buy” and an average price target of $19.00.

Shares of Casella Waste Systems (CWST) traded up $0.35 during trading hours on Tuesday, hitting $24.29. The stock had a trading volume of 131,100 shares, compared to its average volume of 194,991. The company has a debt-to-equity ratio of -7.91, a current ratio of 0.98 and a quick ratio of 0.91. Casella Waste Systems has a twelve month low of $11.15 and a twelve month high of $24.30. The stock has a market capitalization of $1,020.00, a P/E ratio of -18.68 and a beta of 0.72.

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

In other Casella Waste Systems news, CEO John W. Casella sold 62,433 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $19.31, for a total transaction of $1,205,581.23. Following the completion of the sale, the chief executive officer now directly owns 472,112 shares in the company, valued at $9,116,482.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edwin D. Johnson sold 99,091 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $21.01, for a total value of $2,081,901.91. Following the sale, the chief operating officer now owns 469,500 shares of the company’s stock, valued at $9,864,195. The disclosure for this sale can be found here. Insiders have sold 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.

A number of large investors have recently made changes to their positions in CWST. BNP Paribas Arbitrage SA increased its stake in Casella Waste Systems by 206.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 4,922 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Casella Waste Systems in the 2nd quarter valued at approximately $186,000. Tudor Investment Corp ET AL increased its position 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 acquiring an additional 2,633 shares during the period. Voya Investment Management LLC acquired a new stake in Casella Waste Systems in the 2nd quarter valued at approximately $274,000. Finally, AXA increased its position 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 acquiring an additional 4,500 shares during the period. Institutional investors 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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