Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $43.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.37% 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. “
CWST has been the subject of several other research reports. TheStreet upgraded shares of Casella Waste Systems from a “c” rating to a “b-” rating in a research report on Wednesday, May 1st. Stifel Nicolaus upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $40.00 in a research note on Wednesday, May 1st. UBS Group raised their target price on shares of Casella Waste Systems from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. ValuEngine raised shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. Finally, BidaskClub raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.25.
Shares of NASDAQ:CWST traded down $0.10 during mid-day trading on Wednesday, hitting $38.61. The stock had a trading volume of 133,453 shares, compared to its average volume of 275,382. The company has a debt-to-equity ratio of 6.53, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market cap of $1.78 billion, a PE ratio of 63.30 and a beta of 0.86. Casella Waste Systems has a 12-month low of $24.28 and a 12-month high of $40.08.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $163.70 million during the quarter, compared to the consensus estimate of $161.77 million. Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts predict that Casella Waste Systems will post 0.81 earnings per share for the current year.
In related news, Vice Chairman Douglas R. Casella sold 34,492 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.15, for a total transaction of $1,177,901.80. Following the transaction, the insider now directly owns 676,899 shares in the company, valued at $23,116,100.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Edmond Coletta sold 146,017 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.30, for a total transaction of $5,446,434.10. Following the transaction, the insider now owns 292,035 shares in the company, valued at $10,892,905.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 449,743 shares of company stock worth $16,777,755. Insiders own 9.65% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Connable Office Inc. lifted its holdings in shares of Casella Waste Systems by 4.0% in the first quarter. Connable Office Inc. now owns 9,195 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 356 shares during the last quarter. Lisanti Capital Growth LLC increased its position in Casella Waste Systems by 0.3% during the 4th quarter. Lisanti Capital Growth LLC now owns 125,770 shares of the industrial products company’s stock valued at $3,583,000 after purchasing an additional 385 shares during the period. California Public Employees Retirement System increased its position in Casella Waste Systems by 0.4% during the 1st quarter. California Public Employees Retirement System now owns 111,984 shares of the industrial products company’s stock valued at $3,982,000 after purchasing an additional 493 shares during the period. Legal & General Group Plc increased its position in Casella Waste Systems by 9.2% during the 4th quarter. Legal & General Group Plc now owns 7,288 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 615 shares during the period. Finally, US Bancorp DE acquired a new stake in shares of Casella Waste Systems during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 90.23% 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, Western, 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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