Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $29.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.15% from the company’s previous close.
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 analysts also recently issued reports about the stock. Stifel Nicolaus restated a “hold” rating and set a $22.00 price objective on shares of Casella Waste Systems in a research report on Thursday, January 4th. BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 29th. Finally, KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, November 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Casella Waste Systems currently has an average rating of “Buy” and an average price target of $21.20.
Shares of Casella Waste Systems (CWST) traded up $0.32 during mid-day trading on Thursday, hitting $26.57. 130,202 shares of the stock traded hands, compared to its average volume of 196,742. The company has a market cap of $1,106.15, a P/E ratio of -20.44 and a beta of 0.79. Casella Waste Systems has a 12-month low of $11.48 and a 12-month high of $27.38. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of -7.91.
In other Casella Waste Systems news, VP Christopher Heald sold 1,500 shares of Casella Waste Systems stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $20.25, for a total value of $30,375.00. Following the sale, the vice president now directly owns 71,451 shares in the company, valued at approximately $1,446,882.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Edwin D. Johnson sold 99,091 shares of Casella Waste Systems stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $21.01, for a total transaction of $2,081,901.91. Following the completion of the sale, the chief operating officer now owns 469,500 shares in the company, valued at $9,864,195. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,591 shares of company stock worth $2,682,077. 11.47% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in Casella Waste Systems by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,060 shares of the industrial products company’s stock valued at $526,000 after acquiring an additional 1,016 shares during the last quarter. Teachers Advisors LLC increased its holdings in Casella Waste Systems by 2.6% in the 2nd quarter. Teachers Advisors LLC now owns 72,443 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 1,821 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Casella Waste Systems by 1.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 197,032 shares of the industrial products company’s stock valued at $4,536,000 after acquiring an additional 2,458 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Casella Waste Systems by 11.1% in the 2nd quarter. New York State Common Retirement Fund now owns 40,100 shares of the industrial products company’s stock valued at $658,000 after acquiring an additional 3,999 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Casella Waste Systems by 1.0% in the 2nd quarter. Northern Trust Corp now owns 453,612 shares of the industrial products company’s stock valued at $7,444,000 after acquiring an additional 4,516 shares during the last quarter. Institutional investors own 81.61% 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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