Casella Waste Systems (NASDAQ:CWST) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of Casella Waste Systems (NASDAQ:CWST) from a buy rating to a hold rating in a report issued on Wednesday, ValuEngine reports.

Several other analysts have also recently commented on the company. Zacks Investment Research cut Casella Waste Systems from a buy rating to a hold rating in a report on Wednesday, August 7th. Raymond James lifted their price target on Casella Waste Systems from $43.00 to $52.00 and gave the company a strong-buy rating in a report on Monday, August 5th. Finally, BidaskClub cut Casella Waste Systems from a hold rating to a sell rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $44.25.

CWST traded up $0.54 during midday trading on Wednesday, hitting $44.54. The company’s stock had a trading volume of 150,340 shares, compared to its average volume of 388,519. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 5.71. The firm has a market cap of $2.09 billion, a P/E ratio of 73.02 and a beta of 0.78. The firm has a 50-day moving average price of $43.90 and a two-hundred day moving average price of $40.15. Casella Waste Systems has a 52-week low of $24.61 and a 52-week high of $47.72.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $187.46 million during the quarter, compared to analysts’ expectations of $184.08 million. Casella Waste Systems had a return on equity of 76.51% and a net margin of 2.69%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, equities analysts expect that Casella Waste Systems will post 0.83 EPS for the current year.

In other news, Director William P. Hulligan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.60, for a total transaction of $446,000.00. Following the completion of the sale, the director now owns 42,031 shares in the company, valued at approximately $1,874,582.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Heald bought 8,012 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $12.48 per share, with a total value of $99,989.76. Following the acquisition, the vice president now directly owns 50,361 shares in the company, valued at approximately $628,505.28. The disclosure for this purchase can be found here. Insiders sold a total of 312,256 shares of company stock valued at $14,207,139 in the last 90 days. 9.65% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Dorsey Wright & Associates lifted its position in Casella Waste Systems by 33.3% during the 2nd quarter. Dorsey Wright & Associates now owns 1,028 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 257 shares in the last quarter. Bessemer Group Inc. lifted its position in Casella Waste Systems by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 42,000 shares of the industrial products company’s stock worth $1,664,000 after acquiring an additional 500 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Casella Waste Systems by 1.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 50,548 shares of the industrial products company’s stock worth $2,003,000 after acquiring an additional 788 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Casella Waste Systems by 10.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 8,800 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 800 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Casella Waste Systems by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,162 shares of the industrial products company’s stock worth $680,000 after acquiring an additional 1,028 shares in the last quarter. Institutional investors and hedge funds own 88.85% 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, 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.

See Also: Equity Income

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