Casella Waste Systems (NASDAQ:CWST) Cut to Hold at Zacks Investment Research

Casella Waste Systems (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, 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. “

CWST has been the topic of several other research reports. TheStreet lowered Casella Waste Systems from a “b-” rating to a “c” rating in a research report on Friday, November 1st. BidaskClub upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Raymond James increased their price objective on Casella Waste Systems from $43.00 to $52.00 and gave the company a “strong-buy” rating in a report on Monday, August 5th. Jefferies Financial Group assumed coverage on shares of Casella Waste Systems in a research note on Wednesday, November 27th. They issued a “buy” rating and a $52.00 target price for the company. Finally, ValuEngine cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $47.00.

Shares of NASDAQ CWST traded up $0.32 during mid-day trading on Tuesday, hitting $46.20. The company had a trading volume of 110,629 shares, compared to its average volume of 287,614. The company has a market capitalization of $2.23 billion, a PE ratio of 75.74 and a beta of 0.80. The firm has a 50-day simple moving average of $43.19 and a two-hundred day simple moving average of $42.42. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 5.38. Casella Waste Systems has a one year low of $24.61 and a one year high of $47.72.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, October 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. Casella Waste Systems had a return on equity of 50.45% and a net margin of 1.23%. The business had revenue of $198.55 million for the quarter, compared to analyst estimates of $192.60 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. Casella Waste Systems’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts expect that Casella Waste Systems will post 0.85 earnings per share for the current fiscal year.

In related news, Director James F. Callahan, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.01, for a total value of $420,100.00. Following the completion of the sale, the director now directly owns 48,283 shares in the company, valued at approximately $2,028,368.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.65% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gradient Investments LLC bought a new stake in Casella Waste Systems in the 3rd quarter valued at $36,000. NumerixS Investment Technologies Inc acquired a new stake in Casella Waste Systems during the 2nd quarter valued at $55,000. Flagship Harbor Advisors LLC lifted its holdings in Casella Waste Systems by 43.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,378 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 419 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Casella Waste Systems during the 3rd quarter valued at $92,000. Finally, Quantamental Technologies LLC bought a new position in Casella Waste Systems during the second quarter worth $126,000. Institutional investors own 92.33% 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.

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