Casella Waste Systems (NASDAQ:CWST) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Casella Waste Systems (NASDAQ:CWST) from a sell rating to a hold rating in a report released on Thursday, BidAskClub reports.

Several other equities analysts have also recently issued reports on CWST. ValuEngine cut Casella Waste Systems from a buy rating to a hold rating in a report on Wednesday, October 2nd. Raymond James lifted their price objective on Casella Waste Systems from $43.00 to $52.00 and gave the stock a strong-buy rating in a report on Monday, August 5th. Zacks Investment Research raised Casella Waste Systems from a hold rating to a buy rating and set a $50.00 price objective for the company in a report on Monday, October 7th. Finally, TheStreet cut Casella Waste Systems from a b- rating to a c rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Casella Waste Systems has an average rating of Buy and an average target price of $45.25.

CWST stock traded up $0.55 during midday trading on Thursday, hitting $44.19. 159,140 shares of the stock were exchanged, compared to its average volume of 291,138. The stock’s 50-day moving average price is $42.72 and its 200-day moving average price is $41.94. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 72.48 and a beta of 0.75. Casella Waste Systems has a fifty-two week low of $24.61 and a fifty-two week high of $47.72. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.84 and a current ratio of 0.90.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $198.55 million during the quarter, compared to analysts’ expectations of $192.60 million. Casella Waste Systems had a return on equity of 50.45% and a net margin of 1.23%. Casella Waste Systems’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. Research analysts anticipate that Casella Waste Systems will post 0.85 EPS for the current year.

In other news, Vice Chairman Douglas R. Casella sold 38,853 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $44.90, for a total value of $1,744,499.70. Following the completion of the transaction, the insider now directly owns 603,857 shares of the company’s stock, valued at $27,113,179.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James F. Callahan, Jr. sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.01, for a total value of $420,100.00. Following the completion of the transaction, the director now directly owns 48,283 shares of the company’s stock, valued at $2,028,368.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,553 shares of company stock valued at $2,290,231. Insiders own 9.65% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of Casella Waste Systems by 0.5% in the third quarter. Rhumbline Advisers now owns 59,663 shares of the industrial products company’s stock worth $2,562,000 after acquiring an additional 275 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in Casella Waste Systems by 43.7% in the third quarter. Flagship Harbor Advisors LLC now owns 1,378 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 419 shares during the last quarter. Bessemer Group Inc. increased its stake in Casella Waste Systems by 1.2% in the second quarter. Bessemer Group Inc. now owns 42,000 shares of the industrial products company’s stock valued at $1,664,000 after purchasing an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Casella Waste Systems by 4.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,937 shares of the industrial products company’s stock valued at $770,000 after purchasing an additional 775 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Casella Waste Systems by 1.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 50,548 shares of the industrial products company’s stock valued at $2,003,000 after purchasing an additional 788 shares during the last quarter. 90.69% of the stock is owned by institutional investors.

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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Analyst Recommendations for Casella Waste Systems (NASDAQ:CWST)

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