Casella Waste Systems (NASDAQ:CWST) Reaches New 52-Week Low – Time to Sell?

Casella Waste Systems, Inc. (NASDAQ:CWST)’s stock price reached a new 52-week low on Friday . The company traded as low as $82.09 and last traded at $81.93, with a volume of 129591 shares traded. The stock had previously closed at $84.26.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CWST. Zacks Research raised shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Jefferies Financial Group set a $120.00 target price on Casella Waste Systems and gave the stock a “buy” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their price target on Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Weiss Ratings lowered Casella Waste Systems from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $115.00 price target on shares of Casella Waste Systems in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Casella Waste Systems presently has an average rating of “Moderate Buy” and an average target price of $113.11.

Casella Waste Systems Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $5.05 billion, a PE ratio of 662.89 and a beta of 0.80. The stock has a 50-day simple moving average of $98.69 and a 200-day simple moving average of $95.07.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $469.06 million during the quarter, compared to analyst estimates of $471.32 million. Casella Waste Systems had a return on equity of 5.17% and a net margin of 0.43%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. Equities analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Edmond Coletta sold 988 shares of Casella Waste Systems stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $87.81, for a total value of $86,756.28. Following the transaction, the chief executive officer owned 152,618 shares of the company’s stock, valued at $13,401,386.58. This trade represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kevin Drohan sold 675 shares of Casella Waste Systems stock in a transaction on Friday, February 27th. The stock was sold at an average price of $92.61, for a total transaction of $62,511.75. Following the completion of the transaction, the chief accounting officer owned 7,462 shares in the company, valued at $691,055.82. This trade represents a 8.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 15,830 shares of company stock worth $1,454,208. Insiders own 3.81% of the company’s stock.

Hedge Funds Weigh In On Casella Waste Systems

Several large investors have recently made changes to their positions in CWST. Geneos Wealth Management Inc. increased its position in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after buying an additional 184 shares during the period. Hilton Head Capital Partners LLC acquired a new position in shares of Casella Waste Systems in the fourth quarter valued at $25,000. Los Angeles Capital Management LLC bought a new position in Casella Waste Systems in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock valued at $33,000 after buying an additional 200 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Casella Waste Systems by 180.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.