Casella Waste Systems (NASDAQ:CWST) Lowered to Buy at ValuEngine

Casella Waste Systems (NASDAQ:CWST) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other analysts have also weighed in on the company. UBS Group raised their target price on Casella Waste Systems from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. TheStreet upgraded Casella Waste Systems from a “c” rating to a “b-” rating in a research note on Wednesday, May 1st. BidaskClub lowered Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research lowered Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Stifel Nicolaus upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $40.00 in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.00.

Shares of NASDAQ:CWST traded down $0.74 during midday trading on Thursday, reaching $42.86. The company’s stock had a trading volume of 294,947 shares, compared to its average volume of 283,256. Casella Waste Systems has a fifty-two week low of $24.61 and a fifty-two week high of $44.19. The company has a market capitalization of $1.99 billion, a P/E ratio of 70.26 and a beta of 0.83. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 6.53. The stock’s fifty day simple moving average is $41.13.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Casella Waste Systems had a return on equity of 390.60% and a net margin of 1.27%. The company had revenue of $187.46 million during the quarter, compared to analyst estimates of $184.08 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts predict that Casella Waste Systems will post 0.81 earnings per share for the current year.

In related news, CAO Christopher Heald sold 17,851 shares of Casella Waste Systems stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.88, for a total value of $694,046.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Callahan, Jr. sold 5,000 shares of Casella Waste Systems stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $38.53, for a total value of $192,650.00. Following the completion of the sale, the director now owns 65,736 shares of the company’s stock, valued at $2,532,808.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,251 shares of company stock valued at $15,599,854. Corporate insiders own 9.65% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Dorsey Wright & Associates boosted its holdings in Casella Waste Systems by 33.3% during the second quarter. Dorsey Wright & Associates now owns 1,028 shares of the industrial products company’s stock worth $41,000 after buying an additional 257 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Casella Waste Systems by 133.5% during the fourth quarter. Advisory Services Network LLC now owns 6,616 shares of the industrial products company’s stock worth $188,000 after buying an additional 3,783 shares during the last quarter. FMR LLC boosted its holdings in Casella Waste Systems by 3,567.0% during the fourth quarter. FMR LLC now owns 6,894 shares of the industrial products company’s stock worth $196,000 after buying an additional 6,706 shares during the last quarter. NEXT Financial Group Inc bought a new position in Casella Waste Systems during the second quarter worth about $201,000. Finally, Legal & General Group Plc boosted its holdings in Casella Waste Systems by 9.2% during the fourth quarter. Legal & General Group Plc now owns 7,288 shares of the industrial products company’s stock worth $207,000 after buying an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 90.27% 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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