Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $24.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.43% from the company’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 research analysts have also commented on the stock. Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research note on Wednesday, October 4th. KeyCorp reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.40.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The company had revenue of $160.27 million for the quarter, compared to analysts’ expectations of $154.61 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. Casella Waste Systems’s quarterly revenue was up 6.0% on a year-over-year basis. analysts forecast that Casella Waste Systems will post 0.64 EPS for the current fiscal year.
In other news, CEO John W. Casella sold 62,433 shares of the business’s 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 sale, the chief executive officer now directly owns 472,112 shares of the company’s stock, valued at $9,116,482.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Heald sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $20.25, for a total transaction of $30,375.00. Following the sale, 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. Insiders have sold 200,524 shares of company stock valued at $4,077,303 over the last ninety days. 11.47% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of 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 valued at $120,000 after purchasing an additional 4,922 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Casella Waste Systems during the second quarter valued at $186,000. Tudor Investment Corp ET AL boosted its stake in shares of 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 valued at $219,000 after purchasing an additional 2,633 shares during the period. Voya Investment Management LLC purchased a new stake in shares of Casella Waste Systems during the second quarter valued at $274,000. Finally, AXA raised its holdings in shares of Casella Waste Systems by 24.7% in the second quarter. AXA now owns 22,690 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 4,500 shares in the last quarter. 79.30% of the stock is owned by hedge funds and other institutional investors.
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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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