Stifel Nicolaus lowered shares of Casella Waste Systems (NASDAQ:CWST) from a buy rating to a hold rating in a report issued on Monday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has $45.00 price target on the industrial products company’s stock, down from their prior price target of $60.00.
CWST has been the subject of several other reports. Zacks Investment Research lifted their price objective on Casella Waste Systems to $55.00 in a research report on Thursday, February 27th. Raymond James lifted their price objective on Casella Waste Systems from $57.00 to $62.00 and gave the stock a strong-buy rating in a research report on Monday, February 24th. TheStreet upgraded Casella Waste Systems from a c+ rating to a b- rating in a research report on Friday, February 21st. BidaskClub upgraded Casella Waste Systems from a hold rating to a buy rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group began coverage on Casella Waste Systems in a research report on Wednesday, November 27th. They set a buy rating and a $52.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $50.60.
CWST stock opened at $43.81 on Monday. The firm has a 50 day moving average of $48.72 and a 200-day moving average of $46.07. Casella Waste Systems has a 12-month low of $32.07 and a 12-month high of $56.14. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 4.72. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 66.38 and a beta of 0.71.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. Casella Waste Systems had a net margin of 4.26% and a return on equity of 39.38%. The company had revenue of $193.62 million during the quarter, compared to the consensus estimate of $193.34 million. During the same period last year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts forecast that Casella Waste Systems will post 0.87 earnings per share for the current fiscal year.
In related news, CAO Christopher Heald sold 2,670 shares of Casella Waste Systems stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.19, for a total transaction of $131,337.30. Following the completion of the transaction, the chief accounting officer now directly owns 80,513 shares in the company, valued at approximately $3,960,434.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Schmitt sold 2,831 shares of Casella Waste Systems stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.19, for a total value of $139,256.89. Following the transaction, the vice president now owns 39,075 shares of the company’s stock, valued at $1,922,099.25. The disclosure for this sale can be found here. Insiders have sold a total of 255,122 shares of company stock valued at $12,800,572 over the last 90 days. Insiders own 9.65% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CWST. FMR LLC grew its stake in Casella Waste Systems by 78.5% in the 1st quarter. FMR LLC now owns 12,309 shares of the industrial products company’s stock worth $438,000 after acquiring an additional 5,415 shares during the period. First Trust Advisors LP grew its stake in Casella Waste Systems by 1.1% in the 1st quarter. First Trust Advisors LP now owns 125,600 shares of the industrial products company’s stock worth $4,466,000 after acquiring an additional 1,365 shares during the period. Russell Investments Group Ltd. purchased a new stake in Casella Waste Systems in the 3rd quarter worth approximately $92,000. Tower Research Capital LLC TRC purchased a new stake in Casella Waste Systems in the 3rd quarter worth approximately $148,000. Finally, State Street Corp grew its stake in Casella Waste Systems by 0.7% in the 3rd quarter. State Street Corp now owns 905,003 shares of the industrial products company’s stock worth $38,861,000 after acquiring an additional 5,951 shares during the period. 92.61% of the stock is owned by hedge funds and other 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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