Casella Waste Systems (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, 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. “

Several other brokerages have also weighed in on CWST. TheStreet raised shares of Casella Waste Systems from a “c” rating to a “b-” rating in a report on Wednesday, May 1st. BidaskClub raised shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. UBS Group raised their price objective on shares of Casella Waste Systems from $31.00 to $36.00 and gave the stock a “neutral” rating in a report 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, Stifel Nicolaus raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $40.00 in a 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. The stock currently has a consensus rating of “Buy” and an average target price of $39.25.

CWST traded up $0.61 during trading hours on Friday, reaching $39.34. 166,369 shares of the stock traded hands, compared to its average volume of 273,230. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 64.49 and a beta of 0.86. Casella Waste Systems has a fifty-two week low of $24.53 and a fifty-two week high of $40.08. 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 (NASDAQ:CWST) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $163.70 million during the quarter, compared to analyst estimates of $161.77 million. Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that Casella Waste Systems will post 0.81 earnings per share for the current fiscal year.

In other news, Director Michael K. Burke sold 8,389 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $37.22, for a total value of $312,238.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James F. Callahan, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $38.53, for a total transaction of $192,650.00. Following the completion of the transaction, the director now owns 65,736 shares in the company, valued at $2,532,808.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,251 shares of company stock worth $15,599,854. Insiders own 9.65% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Casella Waste Systems by 2.5% in the 4th quarter. BlackRock Inc. now owns 2,827,603 shares of the industrial products company’s stock worth $80,560,000 after buying an additional 69,356 shares during the last quarter. American Century Companies Inc. bought a new stake in Casella Waste Systems in the 4th quarter valued at about $6,555,000. Private Advisory Group LLC bought a new stake in Casella Waste Systems in the 4th quarter valued at about $359,000. Metropolitan Life Insurance Co. NY lifted its position in Casella Waste Systems by 366.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,360 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 10,497 shares during the last quarter. Finally, Oak Ridge Investments LLC bought a new stake in Casella Waste Systems in the 1st quarter valued at about $13,817,000. Institutional investors own 90.23% of the company’s stock.

About Casella Waste Systems

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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