Casella Waste Systems (CWST) Boosted by Stifel Nicolaus to Purchase

Casella Waste Systems (CWST) Boosted  by Stifel Nicolaus to Purchase

Stifel Nicolaus upgraded shares of Casella Waste Systems (NASDAQ:CWST) from a hold rating to a buy rating in a research note issued to investors on Thursday, December 27th, Marketbeat.com reports. The brokerage currently has $32.00 price objective on the industrial products company’s stock, up from their previous price objective of $30.00.

A number of other analysts have also commented on the company. BidaskClub raised Casella Waste Systems from a sell rating to a hold rating in a research note on Wednesday, September 5th. Zacks Investment Research raised Casella Waste Systems from a hold rating to a buy rating and set a $36.00 price target for the company in a research note on Tuesday, September 18th. ValuEngine lowered Casella Waste Systems from a strong-buy rating to a buy rating in a research note on Tuesday, December 11th. Finally, Raymond James raised their price target on Casella Waste Systems from $33.00 to $35.00 and gave the stock a strong-buy rating in a research note on Friday, September 7th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $32.00.

CWST traded up $0.02 during midday trading on Thursday, hitting $30.08. The stock had a trading volume of 3,123 shares, compared to its average volume of 212,668. The firm has a market cap of $1.25 billion, a P/E ratio of 44.82 and a beta of 1.03. Casella Waste Systems has a 1 year low of $22.15 and a 1 year high of $34.48.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The firm had revenue of $172.83 million during the quarter, compared to analysts’ expectations of $172.77 million. Casella Waste Systems had a negative return on equity of 94.81% and a net margin of 6.30%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. As a group, equities research analysts anticipate that Casella Waste Systems will post 0.68 EPS for the current year.

In other news, Director Gregory B. Peters sold 4,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $30.59, for a total transaction of $122,360.00. Following the completion of the transaction, the director now directly owns 88,015 shares in the company, valued at $2,692,378.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Hulligan sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $29.94, for a total value of $299,400.00. Following the transaction, the director now owns 59,484 shares of the company’s stock, valued at $1,780,950.96. The disclosure for this sale can be found here. 10.64% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of CWST. Renaissance Technologies LLC boosted its position in shares of Casella Waste Systems by 2.2% during the second quarter. Renaissance Technologies LLC now owns 3,442,142 shares of the industrial products company’s stock valued at $88,153,000 after buying an additional 73,900 shares during the last quarter. BlackRock Inc. boosted its position in shares of Casella Waste Systems by 0.9% during the third quarter. BlackRock Inc. now owns 2,758,247 shares of the industrial products company’s stock valued at $85,670,000 after buying an additional 24,380 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Casella Waste Systems by 23.1% during the third quarter. Earnest Partners LLC now owns 2,262,018 shares of the industrial products company’s stock valued at $70,258,000 after buying an additional 424,141 shares during the last quarter. Standard Life Aberdeen plc boosted its position in shares of Casella Waste Systems by 5.3% during the third quarter. Standard Life Aberdeen plc now owns 2,210,330 shares of the industrial products company’s stock valued at $68,653,000 after buying an additional 110,881 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Casella Waste Systems by 11.2% during the second quarter. Macquarie Group Ltd. now owns 1,800,433 shares of the industrial products company’s stock valued at $46,109,000 after buying an additional 180,914 shares during the last quarter. Hedge funds and other institutional investors own 85.40% 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 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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