Brokerages Set Casella Waste Systems Inc. (CWST) Price Target at $31.50

Shares of Casella Waste Systems Inc. (NASDAQ:CWST) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $31.50.

CWST has been the topic of several research analyst reports. BidaskClub cut Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 25th. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, August 6th. They noted that the move was a valuation call. ValuEngine upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Raymond James boosted their target price on Casella Waste Systems from $33.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Friday, September 7th. Finally, Zacks Investment Research cut Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Thursday, July 19th.

CWST stock opened at $32.19 on Thursday. Casella Waste Systems has a 12-month low of $17.99 and a 12-month high of $33.94. The stock has a market capitalization of $1.34 billion, a P/E ratio of 49.67 and a beta of 1.00.



Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Casella Waste Systems had a negative return on equity of 63.60% and a net margin of 4.79%. The firm had revenue of $165.65 million during the quarter, compared to analyst estimates of $158.95 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Casella Waste Systems will post 0.7 earnings per share for the current year.

In other news, Director Michael K. Burke sold 13,845 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $27.72, for a total transaction of $383,783.40. Following the transaction, the director now directly owns 60,422 shares in the company, valued at approximately $1,674,897.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory B. Peters sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $33.31, for a total value of $99,930.00. Following the transaction, the director now owns 92,015 shares in the company, valued at $3,065,019.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,845 shares of company stock worth $1,999,113. Insiders own 10.64% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in Casella Waste Systems in the third quarter valued at approximately $380,000. Oppenheimer Asset Management Inc. raised its position in Casella Waste Systems by 14.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 41,440 shares of the industrial products company’s stock valued at $1,287,000 after purchasing an additional 5,234 shares during the period. First Trust Advisors LP raised its position in Casella Waste Systems by 14.8% in the third quarter. First Trust Advisors LP now owns 152,646 shares of the industrial products company’s stock valued at $4,741,000 after purchasing an additional 19,713 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in Casella Waste Systems in the third quarter valued at approximately $243,000. Finally, United Services Automobile Association purchased a new stake in Casella Waste Systems in the second quarter valued at approximately $2,375,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Casella Waste Systems Company Profile

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 Region, Western Region, 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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