Casella Waste Systems, Inc. (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, October 17th.
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. “
A number of other brokerages have also recently weighed in on CWST. BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Barclays PLC initiated coverage on shares of Casella Waste Systems in a research note on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, October 13th. Finally, Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.83.
Shares of Casella Waste Systems (NASDAQ:CWST) traded up $0.36 during mid-day trading on Tuesday, hitting $19.70. The stock had a trading volume of 316,713 shares, compared to its average volume of 338,371. The company has a market capitalization of $812.96, a PE ratio of 31.70 and a beta of 0.69. 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 has a 1 year low of $10.71 and a 1 year high of $20.90.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $160.27 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. research analysts forecast that Casella Waste Systems will post 0.56 EPS for the current fiscal year.
In other news, Director Michael K. Burke sold 31,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $17.93, for a total value of $564,795.00. Following the sale, the director now owns 116,514 shares in the company, valued at approximately $2,089,096.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.50% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of CWST. State Board of Administration of Florida Retirement System lifted its position in Casella Waste Systems by 0.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,853 shares of the industrial products company’s stock worth $322,000 after buying an additional 151 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Casella Waste Systems by 25.3% during the 1st quarter. Bank of New York Mellon Corp now owns 414,241 shares of the industrial products company’s stock worth $5,845,000 after buying an additional 83,729 shares in the last quarter. Karp Capital Management Corp acquired a new position in Casella Waste Systems during the 1st quarter worth about $163,000. Sei Investments Co. lifted its position in Casella Waste Systems by 690.9% during the 1st quarter. Sei Investments Co. now owns 54,889 shares of the industrial products company’s stock worth $774,000 after buying an additional 47,949 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Casella Waste Systems by 11.3% during the 1st quarter. Ameriprise Financial Inc. now owns 388,921 shares of the industrial products company’s stock worth $5,487,000 after buying an additional 39,334 shares in the last quarter. Institutional investors own 77.17% of the company’s stock.
Casella Waste Systems Company Profile
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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