Covanta Holding Corporation (CVA) Rating Reiterated by Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Covanta Holding Corporation (NYSE:CVA) in a research note released on Wednesday, November 1st. Robert W. Baird currently has a $19.00 price objective on the energy company’s stock.

Several other equities analysts have also weighed in on the company. BMO Capital Markets lifted their price target on Covanta Holding Corporation from $17.00 to $20.00 and gave the company an outperform rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Covanta Holding Corporation from a hold rating to a buy rating and set a $17.00 price objective for the company in a research note on Monday, October 9th. Stifel Nicolaus reiterated a buy rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research note on Tuesday, September 5th. BidaskClub lowered Covanta Holding Corporation from a hold rating to a sell rating in a research note on Friday, August 11th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Covanta Holding Corporation in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Covanta Holding Corporation currently has a consensus rating of Hold and a consensus target price of $17.69.

Shares of Covanta Holding Corporation (NYSE:CVA) opened at $14.80 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39. Covanta Holding Corporation has a 52-week low of $13.00 and a 52-week high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Covanta Holding Corporation had a negative return on equity of 12.66% and a negative net margin of 3.68%. The company had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $421.87 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. sell-side analysts anticipate that Covanta Holding Corporation will post -0.26 EPS for the current fiscal year.

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In other news, Director John Vincent Hickey sold 90,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.29, for a total transaction of $26,100.00. Insiders have sold 160,000 shares of company stock worth $45,700 over the last 90 days. 11.60% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in shares of Covanta Holding Corporation during the second quarter worth about $107,000. IFP Advisors Inc grew its holdings in shares of Covanta Holding Corporation by 42.1% during the second quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after purchasing an additional 2,647 shares during the last quarter. Connable Office Inc. purchased a new position in shares of Covanta Holding Corporation during the second quarter worth about $133,000. First Allied Advisory Services Inc. purchased a new position in shares of Covanta Holding Corporation during the third quarter worth about $161,000. Finally, ProShare Advisors LLC purchased a new position in shares of Covanta Holding Corporation during the second quarter worth about $147,000. 96.75% of the stock is currently owned by hedge funds and other institutional investors.

Covanta Holding Corporation Company Profile

Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.

Analyst Recommendations for Covanta Holding Corporation (NYSE:CVA)

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