Casella Waste Systems, Inc. (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, November 7th. The firm currently has a $22.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.47% from the stock’s previous close.
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 brokerages have also recently commented on CWST. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. KeyCorp reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, November 3rd. Finally, Stifel Nicolaus lowered Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research note on Wednesday, October 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Casella Waste Systems has an average rating of “Hold” and a consensus price target of $17.50.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $160.27 million during the quarter, compared to analyst estimates of $154.61 million. Casella Waste Systems had a negative return on equity of 56.99% and a negative net margin of 9.09%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. analysts predict that Casella Waste Systems will post 0.64 EPS for the current fiscal year.
In other news, insider Edmond Coletta sold 7,000 shares of Casella Waste Systems stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $20.01, for a total transaction of $140,070.00. Following the completion of the transaction, the insider now directly owns 164,589 shares in the company, valued at approximately $3,293,425.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Casella sold 62,433 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $19.31, for a total value of $1,205,581.23. Following the transaction, the chief executive officer now owns 472,112 shares of the company’s stock, valued at $9,116,482.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,433 shares of company stock valued at $1,960,021. Corporate insiders own 11.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CWST. BNP Paribas Arbitrage SA raised its holdings in Casella Waste Systems by 206.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 4,922 shares in the last quarter. Simplex Trading LLC grew its position in Casella Waste Systems by 596.4% during the 2nd quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 8,505 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Casella Waste Systems during the 2nd quarter worth $186,000. Karp Capital Management Corp bought a new stake in Casella Waste Systems during the 1st quarter worth $163,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Casella Waste Systems in the 1st quarter valued at about $164,000. 80.92% of the stock is owned by institutional investors and hedge funds.
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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