Zacks Investment Research Upgrades Casella Waste Systems (CWST) to “Hold”
Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Several other research firms have also issued reports on CWST. Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research report on Wednesday, October 4th. BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 29th. Finally, KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, October 13th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Casella Waste Systems presently has an average rating of “Buy” and an average target price of $19.00.
Casella Waste Systems (NASDAQ:CWST) traded down $0.06 during midday trading on Tuesday, reaching $23.17. 103,300 shares of the company’s stock traded hands, compared to its average volume of 230,914. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of -7.91. The firm has a market cap of $988.87, a price-to-earnings ratio of -17.82 and a beta of 0.72. Casella Waste Systems has a 52 week low of $11.15 and a 52 week high of $23.78.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $160.27 million for the quarter, compared to analyst estimates of $154.61 million. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. sell-side analysts forecast that Casella Waste Systems will post 0.64 earnings per share for the current year.
In other news, VP Christopher Heald sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $20.25, for a total transaction of $30,375.00. Following the completion of the transaction, the vice president now directly owns 71,451 shares of the company’s stock, valued at approximately $1,446,882.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Callahan, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $21.00, for a total transaction of $315,000.00. Following the transaction, the director now directly owns 78,102 shares of the company’s stock, valued at $1,640,142. The disclosure for this sale can be found here. Insiders have sold a total of 200,524 shares of company stock valued at $4,077,303 over the last ninety days. 11.47% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in CWST. BNP Paribas Arbitrage SA lifted its holdings in shares of Casella Waste Systems by 206.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 4,922 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Casella Waste Systems during the 2nd quarter worth about $186,000. Tudor Investment Corp ET AL lifted its holdings in shares of Casella Waste Systems by 24.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 13,374 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 2,633 shares during the period. Voya Investment Management LLC bought a new position in shares of Casella Waste Systems during the 2nd quarter worth about $274,000. Finally, AXA lifted its holdings in shares of Casella Waste Systems by 24.7% during the 2nd quarter. AXA now owns 22,690 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 4,500 shares during the period. 79.30% of the stock is owned by institutional investors.
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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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