Casella Waste Systems (NASDAQ:CWST) Reaches New 52-Week High at $99.76

Casella Waste Systems, Inc. (NASDAQ:CWST)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $99.76 and last traded at $99.76, with a volume of 15284 shares trading hands. The stock had previously closed at $98.78.

Wall Street Analysts Forecast Growth

CWST has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Casella Waste Systems from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. StockNews.com raised shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $99.71.

Casella Waste Systems Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.46 and a current ratio of 1.53. The firm’s 50 day simple moving average is $90.91 and its 200-day simple moving average is $84.35. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 221.89, a PEG ratio of 6.26 and a beta of 0.89.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Friday, February 16th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $360.08 million. Casella Waste Systems had a return on equity of 5.81% and a net margin of 2.01%. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. On average, sell-side analysts predict that Casella Waste Systems, Inc. will post 0.77 EPS for the current year.

Insider Activity at Casella Waste Systems

In related news, President Edmond Coletta sold 733 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $94.31, for a total value of $69,129.23. Following the sale, the president now directly owns 170,486 shares in the company, valued at approximately $16,078,534.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO John W. Casella sold 1,673 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total value of $157,479.49. Following the completion of the transaction, the chief executive officer now directly owns 35,189 shares of the company’s stock, valued at $3,312,340.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Edmond Coletta sold 733 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $94.31, for a total value of $69,129.23. Following the completion of the transaction, the president now directly owns 170,486 shares of the company’s stock, valued at $16,078,534.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,238 shares of company stock worth $1,026,395. Company insiders own 4.75% of the company’s stock.

Institutional Investors Weigh In On Casella Waste Systems

Several large investors have recently modified their holdings of the company. First Republic Investment Management Inc. boosted its holdings in shares of Casella Waste Systems by 1.1% in the second quarter. First Republic Investment Management Inc. now owns 11,951 shares of the industrial products company’s stock valued at $869,000 after acquiring an additional 131 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Casella Waste Systems by 42.2% in the third quarter. Public Employees Retirement System of Ohio now owns 475 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 141 shares during the period. Allworth Financial LP boosted its holdings in shares of Casella Waste Systems by 11.0% in the third quarter. Allworth Financial LP now owns 1,513 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 150 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Casella Waste Systems by 1.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,155 shares of the industrial products company’s stock valued at $828,000 after acquiring an additional 151 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Casella Waste Systems by 5.5% in the third quarter. Orion Portfolio Solutions LLC now owns 2,995 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 156 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.