Brokerages Set Casella Waste Systems, Inc. (NASDAQ:CWST) Price Target at $114.00

Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) have received a consensus rating of “Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $114.00.

A number of brokerages recently issued reports on CWST. Raymond James raised their target price on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Casella Waste Systems from $117.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, William Blair began coverage on Casella Waste Systems in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock.

Casella Waste Systems Stock Performance

Casella Waste Systems stock opened at $105.42 on Friday. Casella Waste Systems has a fifty-two week low of $80.81 and a fifty-two week high of $114.88. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 878.50, a PEG ratio of 6.53 and a beta of 1.03. The stock has a fifty day moving average of $107.50 and a two-hundred day moving average of $104.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.48 and a current ratio of 2.55.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $411.63 million for the quarter, compared to analysts’ expectations of $412.59 million. Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. On average, analysts anticipate that Casella Waste Systems will post 0.65 EPS for the current fiscal year.

Insider Activity

In related news, SVP Paul Ligon sold 1,730 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the completion of the sale, the senior vice president now directly owns 21,085 shares in the company, valued at approximately $2,252,088.85. This represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Casella Waste Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Casella Waste Systems by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 242,731 shares of the industrial products company’s stock valued at $24,084,000 after buying an additional 14,698 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Casella Waste Systems by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 7,730 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 135 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Casella Waste Systems by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 83,943 shares of the industrial products company’s stock valued at $8,329,000 after buying an additional 4,008 shares during the last quarter. Arizona State Retirement System grew its position in shares of Casella Waste Systems by 1.9% during the second quarter. Arizona State Retirement System now owns 15,959 shares of the industrial products company’s stock worth $1,583,000 after buying an additional 296 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Casella Waste Systems by 36.1% in the second quarter. Federated Hermes Inc. now owns 11,374 shares of the industrial products company’s stock worth $1,129,000 after buying an additional 3,019 shares during the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.