Casella Waste Systems, Inc. (NASDAQ:CWST) Earns Buy Rating from Stifel Nicolaus
Stifel Nicolaus reaffirmed their buy rating on shares of Casella Waste Systems, Inc. (NASDAQ:CWST) in a research report report published on Friday. They currently have a $19.00 price target on the industrial products company’s stock.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Casella Waste Systems from a hold rating to a sell rating in a report on Wednesday, July 19th. BidaskClub cut Casella Waste Systems from a buy rating to a hold rating in a report on Wednesday, July 19th. Barclays PLC assumed coverage on Casella Waste Systems in a report on Friday, June 23rd. They issued an overweight rating and a $19.00 target price for the company. Finally, KeyCorp lifted their target price on Casella Waste Systems from $14.00 to $17.00 and gave the stock an overweight rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $16.29.
Shares of Casella Waste Systems (CWST) opened at 16.78 on Friday. The company has a market cap of $702.75 million, a P/E ratio of 1290.77 and a beta of 0.56. The company has a 50-day moving average price of $16.57 and a 200-day moving average price of $14.14. Casella Waste Systems has a 52-week low of $8.75 and a 52-week high of $17.73.
Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. The business had revenue of $133.80 million during the quarter, compared to analysts’ expectations of $128.33 million. Casella Waste Systems had a negative return on equity of 73.05% and a net margin of 0.09%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. On average, equities analysts predict that Casella Waste Systems will post $0.59 EPS for the current year.
In related news, Vice Chairman Douglas R. Casella sold 2,166 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total transaction of $36,432.12. Following the completion of the sale, the insider now directly owns 739,613 shares of the company’s stock, valued at approximately $12,440,290.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Casella sold 7,817 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total value of $131,481.94. Following the sale, the chief executive officer now directly owns 507,912 shares of the company’s stock, valued at $8,543,079.84. The disclosure for this sale can be found here. Insiders have sold a total of 16,102 shares of company stock valued at $268,106 over the last three months. 11.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Casella Waste Systems during the first quarter worth $144,000. Teza Capital Management LLC purchased a new stake in shares of Casella Waste Systems during the first quarter worth $157,000. Simplex Trading LLC raised its stake in shares of Casella Waste Systems by 596.4% in the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock worth $162,000 after buying an additional 8,505 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Casella Waste Systems during the first quarter worth $163,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Casella Waste Systems during the first quarter worth $164,000. 75.19% of the stock is owned by hedge funds and other 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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