Casella Waste Systems (CWST) Sets New 1-Year High at $23.87

Shares of Casella Waste Systems Inc. (NASDAQ:CWST) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.87 and last traded at $23.75, with a volume of 143400 shares changing hands. The stock had previously closed at $23.50.

A number of analysts have recently issued reports on CWST shares. Zacks Investment Research downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Stifel Nicolaus downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a report on Wednesday, October 4th. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. Finally, BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, December 29th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Casella Waste Systems currently has a consensus rating of “Buy” and an average price target of $19.00.

The company has a market capitalization of $998.54, a price-to-earnings ratio of -18.27 and a beta of 0.72. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of -7.91.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $160.27 million for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. sell-side analysts forecast that Casella Waste Systems Inc. will post 0.64 earnings per share for the current fiscal year.

In other Casella Waste Systems news, CEO John W. Casella sold 62,433 shares of Casella Waste Systems stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $19.31, for a total transaction of $1,205,581.23. Following the completion of the transaction, the chief executive officer now directly owns 472,112 shares of the company’s stock, valued at $9,116,482.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher Heald sold 1,500 shares of Casella Waste Systems stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $20.25, for a total transaction of $30,375.00. Following the transaction, the vice president now directly owns 71,451 shares of the company’s stock, valued at $1,446,882.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,524 shares of company stock worth $4,077,303. 11.47% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its position in Casella Waste Systems by 206.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 4,922 shares during the period. Cubist Systematic Strategies LLC bought a new position in Casella Waste Systems during the second quarter worth $186,000. Tudor Investment Corp ET AL boosted its position in Casella Waste Systems by 24.5% during the second quarter. Tudor Investment Corp ET AL now owns 13,374 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 2,633 shares during the period. Voya Investment Management LLC bought a new position in Casella Waste Systems during the second quarter worth $274,000. Finally, AXA boosted its position in Casella Waste Systems by 24.7% during the second quarter. AXA now owns 22,690 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 4,500 shares during the period. 79.30% of the stock is owned by hedge funds and other 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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