Casella Waste Systems (CWST) Stock Rating Lowered by Zacks Investment Research

Casella Waste Systems (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “

Other analysts have also issued reports about the stock. ValuEngine upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. BidaskClub lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Monday, August 6th. They noted that the move was a valuation call. Finally, Raymond James boosted their target price on shares of Casella Waste Systems from $33.00 to $35.00 and gave the company a “strong-buy” rating in a research report on Friday, September 7th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.50.

NASDAQ CWST traded down $0.02 during trading hours on Wednesday, hitting $31.91. 862 shares of the company’s stock traded hands, compared to its average volume of 275,338. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 47.25 and a beta of 0.88. Casella Waste Systems has a 52 week low of $18.98 and a 52 week high of $34.48.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The business had revenue of $172.83 million for the quarter, compared to the consensus estimate of $172.77 million. Casella Waste Systems had a net margin of 6.30% and a negative return on equity of 94.81%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Analysts predict that Casella Waste Systems will post 0.68 EPS for the current fiscal year.

In other Casella Waste Systems news, Director Gregory B. Peters sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $33.31, for a total value of $99,930.00. Following the completion of the transaction, the director now directly owns 92,015 shares in the company, valued at $3,065,019.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Edwin D. Johnson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $31.20, for a total transaction of $624,000.00. Following the completion of the transaction, the chief operating officer now owns 345,317 shares of the company’s stock, valued at $10,773,890.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,845 shares of company stock valued at $1,710,613. Company insiders own 11.47% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Casella Waste Systems by 2.2% in the second quarter. Renaissance Technologies LLC now owns 3,442,142 shares of the industrial products company’s stock worth $88,153,000 after purchasing an additional 73,900 shares during the period. Earnest Partners LLC boosted its position in shares of Casella Waste Systems by 146.3% in the second quarter. Earnest Partners LLC now owns 1,837,877 shares of the industrial products company’s stock worth $47,068,000 after purchasing an additional 1,091,762 shares during the period. Macquarie Group Ltd. boosted its position in shares of Casella Waste Systems by 11.2% in the second quarter. Macquarie Group Ltd. now owns 1,800,433 shares of the industrial products company’s stock worth $46,109,000 after purchasing an additional 180,914 shares during the period. Wells Fargo & Company MN boosted its position in shares of Casella Waste Systems by 63.3% in the second quarter. Wells Fargo & Company MN now owns 1,355,205 shares of the industrial products company’s stock worth $34,708,000 after purchasing an additional 525,320 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Casella Waste Systems by 1.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 664,875 shares of the industrial products company’s stock worth $17,027,000 after purchasing an additional 7,725 shares during the period. Institutional investors and hedge funds own 83.96% of the company’s stock.

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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