BidaskClub downgraded shares of Casella Waste Systems (NASDAQ:CWST) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.
Several other research analysts have also recently weighed in on CWST. Zacks Investment Research cut shares of Casella Waste Systems from a hold rating to a sell rating in a research report on Thursday, July 19th. Stifel Nicolaus cut shares of Casella Waste Systems from a buy rating to a hold rating and set a $30.00 target price on the stock. in a research report on Monday, August 6th. They noted that the move was a valuation call. Raymond James upped their target price on shares of Casella Waste Systems from $33.00 to $35.00 and gave the company a strong-buy rating in a research report on Friday, September 7th. Finally, ValuEngine raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research report on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Casella Waste Systems has an average rating of Buy and an average target price of $31.50.
Shares of CWST stock traded up $0.02 on Wednesday, hitting $31.95. 135,014 shares of the stock traded hands, compared to its average volume of 269,539. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 47.69 and a beta of 0.88. Casella Waste Systems has a twelve month low of $18.98 and a twelve month high of $34.48.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $172.83 million for the quarter, compared to analyst estimates of $172.77 million. Casella Waste Systems had a net margin of 6.30% and a negative return on equity of 94.81%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. On average, analysts expect that Casella Waste Systems will post 0.68 EPS for the current fiscal year.
In related news, COO Edwin D. Johnson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $31.20, for a total transaction of $624,000.00. Following the sale, the chief operating officer now directly owns 345,317 shares in the company, valued at $10,773,890.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory B. Peters sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $33.31, for a total transaction of $99,930.00. Following the sale, the director now owns 92,015 shares in the company, valued at $3,065,019.65. The disclosure for this sale can be found here. Insiders have sold 56,845 shares of company stock worth $1,710,613 over the last 90 days. Insiders own 11.47% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Globeflex Capital L P increased its stake in shares of Casella Waste Systems by 2.8% during the third quarter. Globeflex Capital L P now owns 70,200 shares of the industrial products company’s stock worth $2,180,000 after buying an additional 1,900 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Casella Waste Systems by 4.0% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 91,239 shares of the industrial products company’s stock worth $2,337,000 after buying an additional 3,539 shares during the period. Engineers Gate Manager LP increased its stake in shares of Casella Waste Systems by 25.7% during the third quarter. Engineers Gate Manager LP now owns 19,843 shares of the industrial products company’s stock worth $616,000 after buying an additional 4,062 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Casella Waste Systems during the second quarter worth approximately $118,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Casella Waste Systems during the third quarter worth approximately $152,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
Casella Waste Systems Company Profile
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 Region, Western Region, 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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