BidaskClub Lowers Casella Waste Systems (NASDAQ:CWST) to Sell

BidaskClub lowered shares of Casella Waste Systems (NASDAQ:CWST) from a hold rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

Other analysts also recently issued reports about the company. ValuEngine downgraded Casella Waste Systems from a buy rating to a hold rating in a report on Wednesday, October 2nd. Raymond James increased their price target on Casella Waste Systems from $43.00 to $52.00 and gave the stock a strong-buy rating in a report on Monday, August 5th. Finally, Zacks Investment Research upgraded Casella Waste Systems from a hold rating to a buy rating and set a $50.00 price target for the company in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $45.25.

NASDAQ:CWST traded up $0.87 during trading hours on Thursday, hitting $43.88. 184,339 shares of the company were exchanged, compared to its average volume of 352,376. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 71.93 and a beta of 0.78. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 5.71. Casella Waste Systems has a one year low of $24.61 and a one year high of $47.72. The company has a fifty day simple moving average of $43.38 and a 200 day simple moving average of $40.73.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. Casella Waste Systems had a return on equity of 76.51% and a net margin of 2.69%. The firm had revenue of $187.46 million during the quarter, compared to the consensus estimate of $184.08 million. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. Equities research analysts predict that Casella Waste Systems will post 0.83 earnings per share for the current fiscal year.

In other news, Director William P. Hulligan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.60, for a total value of $446,000.00. Following the completion of the sale, the director now directly owns 42,031 shares in the company, valued at approximately $1,874,582.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher Heald bought 8,012 shares of Casella Waste Systems stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $12.48 per share, with a total value of $99,989.76. Following the completion of the purchase, the vice president now owns 50,361 shares in the company, valued at $628,505.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 312,256 shares of company stock valued at $14,207,139. 9.65% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Gradient Investments LLC acquired a new stake in shares of Casella Waste Systems in the 3rd quarter valued at about $36,000. Dorsey Wright & Associates grew its stake in shares of Casella Waste Systems by 33.3% in the 2nd quarter. Dorsey Wright & Associates now owns 1,028 shares of the industrial products company’s stock valued at $41,000 after buying an additional 257 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Casella Waste Systems in the 2nd quarter valued at about $55,000. Quantamental Technologies LLC acquired a new stake in shares of Casella Waste Systems in the 2nd quarter valued at about $126,000. Finally, Atria Investments LLC acquired a new stake in shares of Casella Waste Systems in the 2nd quarter valued at about $209,000. Institutional investors own 88.85% 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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