Casella Waste Systems (CWST) Downgraded to “Strong Sell” at Zacks Investment Research

Casella Waste Systems (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, 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 research analysts have also recently issued research reports about the company. UBS Group boosted their price target on Casella Waste Systems from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. ValuEngine upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 28th. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a research note on Friday, February 22nd. Finally, KeyCorp began coverage on Casella Waste Systems in a research note on Monday, February 4th. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.50.

Casella Waste Systems stock traded up $0.67 during mid-day trading on Monday, hitting $33.45. The company had a trading volume of 172,000 shares, compared to its average volume of 302,440. Casella Waste Systems has a 12 month low of $23.38 and a 12 month high of $36.95. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 54.84 and a beta of 0.95.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, February 21st. The industrial products company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). Casella Waste Systems had a negative return on equity of 114.82% and a net margin of 0.97%. The company had revenue of $174.72 million during the quarter, compared to the consensus estimate of $172.12 million. During the same period last year, the firm posted $0.11 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. On average, equities analysts expect that Casella Waste Systems will post 0.82 EPS for the current fiscal year.

In other news, insider Edmond Coletta sold 1,255 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $34.18, for a total value of $42,895.90. Following the completion of the transaction, the insider now owns 157,507 shares in the company, valued at $5,383,589.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas R. Casella sold 34,492 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $34.15, for a total value of $1,177,901.80. Following the completion of the transaction, the insider now owns 676,899 shares of the company’s stock, valued at approximately $23,116,100.85. The disclosure for this sale can be found here. Insiders sold 424,422 shares of company stock valued at $14,797,659 in the last 90 days. Company insiders own 10.64% of the company’s stock.

Several hedge funds have recently bought and sold shares of CWST. Teton Advisors Inc. increased its position in Casella Waste Systems by 0.4% during the fourth quarter. Teton Advisors Inc. now owns 598,428 shares of the industrial products company’s stock valued at $17,049,000 after acquiring an additional 2,600 shares during the last quarter. BlackRock Inc. increased its position in Casella Waste Systems by 2.5% during the fourth quarter. BlackRock Inc. now owns 2,827,603 shares of the industrial products company’s stock valued at $80,560,000 after acquiring an additional 69,356 shares during the last quarter. Suffolk Capital Management LLC purchased a new stake in Casella Waste Systems during the fourth quarter valued at $389,000. American Century Companies Inc. purchased a new stake in Casella Waste Systems during the fourth quarter valued at $6,555,000. Finally, Private Advisory Group LLC purchased a new stake in Casella Waste Systems during the fourth quarter valued at $359,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

About Casella Waste Systems

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.

See Also: Outstanding Shares

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