Casella Waste Systems, Inc. (CWST) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Casella Waste Systems, Inc. (NASDAQ:CWST) from a buy rating to a hold rating in a report released on Tuesday.
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 equities research analysts also recently issued research reports about the stock. Stifel Nicolaus restated a buy rating and issued a $16.00 target price on shares of Casella Waste Systems in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Casella Waste Systems from a hold rating to a buy rating in a research note on Thursday, July 13th. Finally, Barclays PLC initiated coverage on shares of Casella Waste Systems in a research report on Friday, June 23rd. They set an overweight rating and a $19.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $16.83.
Shares of Casella Waste Systems (NASDAQ:CWST) traded up 2.14% during mid-day trading on Tuesday, reaching $18.14. 690,070 shares of the company traded hands. The stock’s market capitalization is $762.53 million. Casella Waste Systems has a 52-week low of $10.31 and a 52-week high of $19.13. The stock’s 50 day moving average is $17.52 and its 200 day moving average is $15.79.
Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Casella Waste Systems had a negative net margin of 10.01% and a negative return on equity of 60.26%. The company had revenue of $154.02 million for the quarter, compared to the consensus estimate of $149.88 million. During the same quarter in the previous year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Casella Waste Systems will post $0.61 earnings per share for the current year.
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In other Casella Waste Systems news, Director William P. Hulligan sold 20,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $16.15, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 96,760 shares in the company, valued at approximately $1,562,674. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael K. Burke sold 31,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $564,795.00. Following the transaction, the director now owns 116,514 shares in the company, valued at $2,089,096.02. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in CWST. Nationwide Fund Advisors increased its stake in shares of Casella Waste Systems by 130.6% in the 1st quarter. Nationwide Fund Advisors now owns 57,327 shares of the industrial products company’s stock valued at $809,000 after acquiring an additional 32,466 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Casella Waste Systems by 0.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,853 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 151 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Casella Waste Systems by 25.3% in the 1st quarter. Bank of New York Mellon Corp now owns 414,241 shares of the industrial products company’s stock valued at $5,845,000 after acquiring an additional 83,729 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Casella Waste Systems in the 1st quarter valued at about $163,000. Finally, Sei Investments Co. increased its stake in shares of Casella Waste Systems by 690.9% in the 1st quarter. Sei Investments Co. now owns 54,889 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 47,949 shares during the last quarter. 77.40% of the stock is owned by institutional investors.
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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