Casella Waste Systems (CWST) Downgraded 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 note issued on Thursday, Zacks.com reports.

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 equities analysts also recently issued reports about the company. TheStreet raised Casella Waste Systems from a “c” rating to a “b-” rating in a research note on Wednesday, May 1st. BidaskClub raised Casella Waste Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Stifel Nicolaus raised Casella Waste Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, May 1st. UBS Group increased their target price on Casella Waste Systems from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, KeyCorp initiated coverage on Casella Waste Systems in a research note on Monday, February 4th. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $39.25.

Shares of CWST stock opened at $39.07 on Thursday. The company has a market cap of $1.79 billion, a PE ratio of 64.28 and a beta of 0.94. Casella Waste Systems has a 12-month low of $23.38 and a 12-month high of $39.31. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 6.53.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $163.70 million during the quarter, compared to the consensus estimate of $161.77 million. Casella Waste Systems had a return on equity of 390.60% and a net margin of 1.27%. Casella Waste Systems’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Casella Waste Systems will post 0.8 earnings per share for the current year.

In related news, VP Christopher Heald sold 6,925 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $34.60, for a total value of $239,605.00. Following the completion of the transaction, the vice president now directly owns 107,090 shares of the company’s stock, valued at approximately $3,705,314. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Casella sold 60,733 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $34.60, for a total value of $2,101,361.80. Following the completion of the transaction, the chief executive officer now directly owns 548,108 shares of the company’s stock, valued at $18,964,536.80. The disclosure for this sale can be found here. Insiders sold a total of 834,673 shares of company stock valued at $30,204,862 over the last ninety days. 10.64% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in Casella Waste Systems by 95.6% during the 1st quarter. Wells Fargo & Company MN now owns 2,613,176 shares of the industrial products company’s stock valued at $92,924,000 after buying an additional 1,276,940 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in Casella Waste Systems during the 1st quarter valued at $27,427,000. Oak Ridge Investments LLC acquired a new stake in Casella Waste Systems during the 1st quarter valued at $13,817,000. BlackRock Inc. grew its holdings in Casella Waste Systems by 8.3% during the 1st quarter. BlackRock Inc. now owns 3,061,151 shares of the industrial products company’s stock valued at $108,853,000 after buying an additional 233,548 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Casella Waste Systems during the fourth quarter worth $6,555,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Certificate of Deposit (CD)

Get a free copy of the Zacks research report on Casella Waste Systems (CWST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Casella Waste Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casella Waste Systems and related companies with MarketBeat.com's FREE daily email newsletter.