Casella Waste Systems (NASDAQ:CWST) Rating Lowered to Hold at Zacks Investment Research

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Casella Waste Systems (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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 equities analysts have also commented on the company. BidaskClub raised Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Stifel Nicolaus upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $40.00 in a report on Wednesday, May 1st. UBS Group lifted their price objective on Casella Waste Systems from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. ValuEngine upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. Finally, TheStreet upgraded Casella Waste Systems from a “c” rating to a “b-” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.25.

Casella Waste Systems stock opened at $39.34 on Friday. The company has a market cap of $1.83 billion, a P/E ratio of 64.49 and a beta of 0.86. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 6.53. Casella Waste Systems has a one year low of $24.53 and a one year high of $40.08.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $163.70 million for the quarter, compared to analyst estimates of $161.77 million. Casella Waste Systems had a return on equity of 390.60% and a net margin of 1.27%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Casella Waste Systems will post 0.81 EPS for the current year.

In other Casella Waste Systems news, CEO John W. Casella sold 45,124 shares of Casella Waste Systems stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $37.31, for a total transaction of $1,683,576.44. Following the sale, the chief executive officer now directly owns 422,204 shares in the company, valued at approximately $15,752,431.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edmond Coletta sold 146,017 shares of Casella Waste Systems stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $37.30, for a total value of $5,446,434.10. Following the sale, the insider now owns 292,035 shares in the company, valued at $10,892,905.50. The disclosure for this sale can be found here. Insiders have sold a total of 415,251 shares of company stock worth $15,599,854 over the last 90 days. 9.65% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. boosted its position in Casella Waste Systems by 100.3% during the 1st quarter. Marshall Wace North America L.P. now owns 16,182 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 8,105 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Casella Waste Systems by 16.5% in the first quarter. MetLife Investment Advisors LLC now owns 19,066 shares of the industrial products company’s stock valued at $678,000 after buying an additional 2,694 shares during the period. FMR LLC lifted its holdings in shares of Casella Waste Systems by 78.5% in the first quarter. FMR LLC now owns 12,309 shares of the industrial products company’s stock valued at $438,000 after buying an additional 5,415 shares during the period. Morgan Stanley lifted its holdings in shares of Casella Waste Systems by 51.1% in the first quarter. Morgan Stanley now owns 230,434 shares of the industrial products company’s stock valued at $8,194,000 after buying an additional 77,921 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Casella Waste Systems by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 108,852 shares of the industrial products company’s stock valued at $3,871,000 after buying an additional 24,272 shares during the period. Institutional investors own 90.23% of the company’s stock.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. The company operates through Eastern, Western, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.

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