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

BidaskClub lowered shares of Casella Waste Systems (NASDAQ:CWST) from a strong-buy rating to a buy rating in a report released on Tuesday, BidAskClub reports.

Several other research firms also recently issued reports on CWST. TheStreet upgraded shares of Casella Waste Systems from a c rating to a b- rating in a research note on Wednesday, May 1st. UBS Group upped their price objective on shares of Casella Waste Systems from $31.00 to $36.00 and gave the company a neutral rating in a research note on Thursday, April 4th. ValuEngine upgraded shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research note on Thursday, February 28th. Zacks Investment Research downgraded shares of Casella Waste Systems from a buy rating to a hold rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus upgraded shares of Casella Waste Systems from a hold rating to a buy rating and upped their price objective for the company from $35.00 to $40.00 in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $39.25.

NASDAQ CWST opened at $38.71 on Tuesday. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.02 and a quick ratio of 0.96. Casella Waste Systems has a 1 year low of $24.01 and a 1 year high of $40.08. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 63.46 and a beta of 0.86.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting the 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 during the quarter, compared to the consensus estimate of $161.77 million. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Casella Waste Systems will post 0.81 EPS for the current fiscal year.

In other news, Vice Chairman Douglas R. Casella sold 34,492 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.15, for a total transaction of $1,177,901.80. Following the completion of the sale, the insider now owns 676,899 shares in the company, valued at $23,116,100.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James F. Callahan, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $38.53, for a total transaction of $192,650.00. Following 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 have sold 449,743 shares of company stock valued at $16,777,755 in the last quarter. Insiders own 9.65% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. increased its stake in shares of Casella Waste Systems by 100.3% during the 1st quarter. Marshall Wace North America L.P. now owns 16,182 shares of the industrial products company’s stock worth $576,000 after purchasing an additional 8,105 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of Casella Waste Systems by 16.5% during the 1st quarter. MetLife Investment Advisors LLC now owns 19,066 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 2,694 shares in the last quarter. FMR LLC increased its stake in shares of Casella Waste Systems by 78.5% during the 1st quarter. FMR LLC now owns 12,309 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 5,415 shares in the last quarter. Morgan Stanley increased its stake in shares of Casella Waste Systems by 51.1% during the 1st quarter. Morgan Stanley now owns 230,434 shares of the industrial products company’s stock worth $8,194,000 after purchasing an additional 77,921 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Casella Waste Systems by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 108,852 shares of the industrial products company’s stock worth $3,871,000 after purchasing an additional 24,272 shares in the last quarter. Institutional investors and hedge funds own 90.23% 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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