Casella Waste Systems, Inc. (NASDAQ:CWST) Receives $111.13 Consensus PT from Brokerages

Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $111.1250.

A number of analysts have recently weighed in on CWST shares. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $101.00 to $102.00 in a report on Monday, May 4th. Zacks Research lowered Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reduced their target price on Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd.

Casella Waste Systems Stock Performance

NASDAQ:CWST opened at $89.37 on Monday. The company has a fifty day moving average of $84.57 and a 200 day moving average of $92.39. Casella Waste Systems has a 52 week low of $74.05 and a 52 week high of $118.91. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.68 billion, a P/E ratio of 812.53 and a beta of 0.77.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The business had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. During the same quarter in the prior year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that Casella Waste Systems will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Casella Waste Systems

In related news, Director Michael K. Burke sold 2,305 shares of Casella Waste Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total value of $201,825.80. Following the sale, the director owned 14,048 shares in the company, valued at $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edmond Coletta sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Woods Capital Investors LLC bought a new position in shares of Casella Waste Systems in the 1st quarter worth approximately $270,000. Argent Capital Management LLC boosted its position in shares of Casella Waste Systems by 1,054.4% during the first quarter. Argent Capital Management LLC now owns 73,097 shares of the industrial products company’s stock valued at $5,800,000 after purchasing an additional 66,765 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Casella Waste Systems during the first quarter valued at approximately $223,000. Amundi purchased a new stake in Casella Waste Systems in the first quarter worth $374,000. Finally, California State Teachers Retirement System grew its stake in Casella Waste Systems by 26.2% in the first quarter. California State Teachers Retirement System now owns 74,027 shares of the industrial products company’s stock worth $5,873,000 after purchasing an additional 15,380 shares during the period. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.