Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $24.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.91% from the stock’s previous close.
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 research analysts have also issued research reports about the company. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. Stifel Nicolaus lowered Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a report on Wednesday, October 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Casella Waste Systems currently has an average rating of “Buy” and an average price target of $18.40.
Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative return on equity of 56.99% and a negative net margin of 9.09%. The company had revenue of $160.27 million for the quarter, compared to analyst estimates of $154.61 million. During the same quarter last year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. equities research analysts expect that Casella Waste Systems will post 0.64 earnings per share for the current year.
In other news, COO Edwin D. Johnson sold 99,091 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $21.01, for a total value of $2,081,901.91. Following the completion of the transaction, the chief operating officer now directly owns 469,500 shares of the company’s stock, valued at $9,864,195. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Callahan, Jr. sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $21.00, for a total value of $315,000.00. Following the completion of the transaction, the director now directly owns 78,102 shares of the company’s stock, valued at $1,640,142. The disclosure for this sale can be found here. Insiders sold 200,524 shares of company stock valued at $4,077,303 over the last three months. Company insiders own 11.47% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Casella Waste Systems by 7.3% in the second quarter. State Street Corp now owns 707,702 shares of the industrial products company’s stock worth $11,615,000 after acquiring an additional 47,955 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Casella Waste Systems by 42.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 291,400 shares of the industrial products company’s stock valued at $4,782,000 after buying an additional 86,562 shares during the period. Macquarie Group Ltd. boosted its stake in Casella Waste Systems by 140.9% during the second quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock valued at $16,813,000 after buying an additional 599,264 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Casella Waste Systems by 18.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 84,100 shares of the industrial products company’s stock valued at $1,381,000 after buying an additional 13,000 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Casella Waste Systems by 104.5% during the second quarter. Nationwide Fund Advisors now owns 117,208 shares of the industrial products company’s stock valued at $1,923,000 after buying an additional 59,881 shares during the period. 79.30% of the stock is owned by hedge funds and other institutional investors.
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Casella Waste Systems Company Profile
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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