BidaskClub Downgrades Casella Waste Systems (CWST) to Hold

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Casella Waste Systems (NASDAQ:CWST) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other analysts have also recently issued reports on CWST. Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine raised Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, UBS Group assumed coverage on Casella Waste Systems in a research report on Wednesday, March 14th. They set a “neutral” rating and a $25.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.33.

Shares of NASDAQ:CWST opened at $25.54 on Wednesday. The company has a debt-to-equity ratio of -12.75, a current ratio of 1.00 and a quick ratio of 0.93. Casella Waste Systems has a 1 year low of $15.20 and a 1 year high of $27.50. The stock has a market cap of $1.10 billion, a PE ratio of 38.12 and a beta of 0.96.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, May 3rd. The industrial products company reported $0.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.01. Casella Waste Systems had a negative return on equity of 53.97% and a negative net margin of 4.16%. The business had revenue of $147.50 million during the quarter, compared to analysts’ expectations of $139.13 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. sell-side analysts forecast that Casella Waste Systems will post 0.71 EPS for the current year.

In related news, General Counsel David L. Schmitt sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $23.63, for a total transaction of $354,450.00. Following the transaction, the general counsel now directly owns 52,006 shares of the company’s stock, valued at approximately $1,228,901.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael K. Burke sold 20,236 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $24.56, for a total value of $496,996.16. Following the transaction, the director now directly owns 67,502 shares in the company, valued at $1,657,849.12. The disclosure for this sale can be found here. Insiders have sold a total of 73,354 shares of company stock worth $1,761,331 over the last three months. 11.47% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Casella Waste Systems in the 1st quarter valued at approximately $142,000. Citigroup Inc. raised its position in shares of Casella Waste Systems by 417.9% in the 1st quarter. Citigroup Inc. now owns 10,643 shares of the industrial products company’s stock valued at $249,000 after purchasing an additional 8,588 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Casella Waste Systems in the 4th quarter valued at approximately $263,000. Barclays PLC raised its position in shares of Casella Waste Systems by 23.1% in the 1st quarter. Barclays PLC now owns 11,480 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 2,156 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Casella Waste Systems in the 4th quarter valued at approximately $298,000. 83.10% of the stock is currently 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 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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