Brokerages Set Casella Waste Systems Inc. (NASDAQ:CWST) Price Target at $51.80

Casella Waste Systems Inc. (NASDAQ:CWST) has received an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.80.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Thursday, June 18th. BidaskClub lowered Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday. Raymond James increased their price objective on Casella Waste Systems from $49.00 to $56.00 and gave the company a “strong-buy” rating in a report on Monday, May 11th. UBS Group cut their price target on Casella Waste Systems from $53.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Finally, TheStreet downgraded Casella Waste Systems from a “b-” rating to a “c+” rating in a report on Wednesday, March 25th.

In other news, CEO John W. Casella sold 47,159 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $49.00, for a total transaction of $2,310,791.00. Following the completion of the sale, the chief executive officer now owns 183,236 shares in the company, valued at approximately $8,978,564. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Hulligan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $48.75, for a total value of $243,750.00. Following the sale, the director now directly owns 27,031 shares in the company, valued at $1,317,761.25. The disclosure for this sale can be found here. Insiders sold 130,427 shares of company stock valued at $6,625,186 over the last quarter. 7.71% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in CWST. FMR LLC boosted its holdings in shares of Casella Waste Systems by 78.5% in the 1st quarter. FMR LLC now owns 12,309 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 5,415 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Casella Waste Systems by 1.1% during the first quarter. First Trust Advisors LP now owns 125,600 shares of the industrial products company’s stock valued at $4,466,000 after acquiring an additional 1,365 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Casella Waste Systems by 9.7% during the 4th quarter. Bank of Montreal Can now owns 7,711 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 683 shares during the period. Envestnet Asset Management Inc. raised its holdings in Casella Waste Systems by 5.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,117 shares of the industrial products company’s stock valued at $1,294,000 after acquiring an additional 1,341 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Casella Waste Systems during the fourth quarter worth approximately $296,000. 93.22% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CWST opened at $51.10 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 5.25. Casella Waste Systems has a twelve month low of $34.35 and a twelve month high of $56.14. The company’s 50 day moving average is $50.91 and its two-hundred day moving average is $48.30. The company has a market cap of $2.47 billion, a PE ratio of 70.97 and a beta of 1.02.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. The company had revenue of $182.91 million during the quarter, compared to the consensus estimate of $180.38 million. Casella Waste Systems had a return on equity of 39.01% and a net margin of 4.50%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. As a group, analysts expect that Casella Waste Systems will post 0.54 EPS for the current fiscal year.

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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