Casella Waste Systems (NASDAQ:CWST) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Casella Waste Systems (NASDAQ:CWST) from a buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

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. “

A number of other brokerages also recently issued reports on CWST. TheStreet raised shares of Casella Waste Systems from a c rating to a b- rating in a research report on Wednesday, May 1st. BidaskClub raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research report on Saturday, May 4th. UBS Group lifted their price objective on shares of Casella Waste Systems from $31.00 to $36.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. ValuEngine raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research report on Thursday, February 28th. Finally, Stifel Nicolaus raised shares of Casella Waste Systems from a hold rating to a buy rating and lifted their price objective for the stock from $35.00 to $40.00 in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Casella Waste Systems presently has a consensus rating of Buy and an average price target of $39.25.

Shares of Casella Waste Systems stock opened at $39.34 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 6.53. Casella Waste Systems has a 52-week low of $24.53 and a 52-week high of $40.08. The company has a market capitalization of $1.83 billion, a PE ratio of 64.49 and a beta of 0.86.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The firm had revenue of $163.70 million for the quarter, compared to the consensus estimate of $161.77 million. The business’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Casella Waste Systems will post 0.81 earnings per share for the current fiscal year.

In other Casella Waste Systems news, CAO Christopher Heald sold 17,851 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $38.88, for a total transaction of $694,046.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael K. Burke sold 8,389 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $37.22, for a total transaction of $312,238.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,251 shares of company stock worth $15,599,854. Insiders own 9.65% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CWST. Marshall Wace North America L.P. lifted its stake in shares of Casella Waste Systems by 100.3% in the 1st quarter. Marshall Wace North America L.P. now owns 16,182 shares of the industrial products company’s stock valued at $576,000 after purchasing an additional 8,105 shares during the period. MetLife Investment Advisors LLC lifted its stake in shares of Casella Waste Systems by 16.5% in the 1st quarter. MetLife Investment Advisors LLC now owns 19,066 shares of the industrial products company’s stock valued at $678,000 after purchasing an additional 2,694 shares during the period. FMR LLC raised its position in Casella Waste Systems by 78.5% during the first quarter. FMR LLC now owns 12,309 shares of the industrial products company’s stock worth $438,000 after acquiring an additional 5,415 shares during the period. Morgan Stanley raised its position in Casella Waste Systems by 51.1% during the first quarter. Morgan Stanley now owns 230,434 shares of the industrial products company’s stock worth $8,194,000 after acquiring an additional 77,921 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Casella Waste Systems by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 108,852 shares of the industrial products company’s stock worth $3,871,000 after acquiring an additional 24,272 shares during the period. 90.23% of the stock is currently owned by institutional investors.

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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