Casella Waste Systems (NASDAQ:CWST) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Casella Waste Systems (NASDAQ:CWST) from a buy rating to a hold rating in a research note issued to investors on Friday morning, 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. “

Several other brokerages also recently issued reports on CWST. TheStreet raised shares of Casella Waste Systems from a c rating to a b- rating in a research report on Wednesday, May 1st. BidaskClub raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research report on Saturday, May 4th. UBS Group raised their price objective on shares of Casella Waste Systems from $31.00 to $36.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. ValuEngine raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research report on Thursday, February 28th. Finally, Stifel Nicolaus raised shares of Casella Waste Systems from a hold rating to a buy rating and raised their price objective for the stock from $35.00 to $40.00 in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $40.00.

Shares of Casella Waste Systems stock opened at $40.52 on Friday. Casella Waste Systems has a 1 year low of $24.61 and a 1 year high of $41.72. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market cap of $1.88 billion, a P/E ratio of 66.43 and a beta of 0.86. The stock’s fifty day simple moving average is $38.95.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The company had revenue of $163.70 million for the quarter, compared to the consensus estimate of $161.77 million. Casella Waste Systems’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casella Waste Systems will post 0.81 earnings per share for the current year.

In other news, General Counsel David L. Schmitt sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.23, for a total value of $372,300.00. Following the completion of the sale, the general counsel now owns 25,959 shares in the company, valued at approximately $966,453.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James F. Callahan, Jr. sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $38.53, for a total transaction of $192,650.00. Following the completion of the sale, the director now owns 65,736 shares of the company’s stock, valued at approximately $2,532,808.08. The disclosure for this sale can be found here. Insiders sold a total of 415,251 shares of company stock valued at $15,599,854 in the last 90 days. Company insiders own 9.65% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Connable Office Inc. lifted its stake in shares of Casella Waste Systems by 4.0% in the 1st quarter. Connable Office Inc. now owns 9,195 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 356 shares during the period. Lisanti Capital Growth LLC lifted its stake in shares of Casella Waste Systems by 0.3% in the fourth quarter. Lisanti Capital Growth LLC now owns 125,770 shares of the industrial products company’s stock valued at $3,583,000 after purchasing an additional 385 shares during the period. California Public Employees Retirement System lifted its stake in shares of Casella Waste Systems by 0.4% in the first quarter. California Public Employees Retirement System now owns 111,984 shares of the industrial products company’s stock valued at $3,982,000 after purchasing an additional 493 shares during the period. Legal & General Group Plc lifted its stake in shares of Casella Waste Systems by 9.2% in the fourth quarter. Legal & General Group Plc now owns 7,288 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 615 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Casella Waste Systems by 7.8% in the fourth quarter. Citigroup Inc. now owns 14,497 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 1,045 shares during the period. Institutional investors own 90.19% of the company’s stock.

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.

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