Casella Waste Systems (CWST) Upgraded at BidaskClub

BidaskClub upgraded shares of Casella Waste Systems (NASDAQ:CWST) from a hold rating to a buy rating in a report published on Wednesday morning.

A number of other brokerages have also recently weighed in on CWST. Zacks Investment Research upgraded Casella Waste Systems from a hold rating to a buy rating and set a $29.00 price target for the company in a research report on Thursday, February 22nd. TheStreet upgraded Casella Waste Systems from a d rating to a c rating in a research report on Thursday, March 1st. ValuEngine upgraded Casella Waste Systems from a hold rating to a buy rating in a research report on Wednesday, March 7th. Finally, UBS Group assumed coverage on Casella Waste Systems in a research report on Wednesday, March 14th. They issued a neutral rating and a $25.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $27.33.

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Shares of Casella Waste Systems opened at $26.51 on Wednesday, MarketBeat reports. Casella Waste Systems has a fifty-two week low of $15.20 and a fifty-two week high of $27.50. The firm has a market capitalization of $1.13 billion, a PE ratio of 40.00 and a beta of 0.93. The company has a debt-to-equity ratio of -12.75, a current ratio of 1.00 and a quick ratio of 0.93.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. Casella Waste Systems had a negative return on equity of 53.97% and a negative net margin of 4.16%. The business had revenue of $147.50 million during the quarter, compared to analysts’ expectations of $139.13 million. During the same quarter last year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. sell-side analysts anticipate that Casella Waste Systems will post 0.71 earnings per share for the current fiscal year.

In related news, CFO Edmond Coletta sold 33,000 shares of the stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $23.79, for a total transaction of $785,070.00. Following the sale, the chief financial officer now owns 117,255 shares of the company’s stock, valued at $2,789,496.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Heald sold 4,000 shares of the stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $24.56, for a total value of $98,240.00. Following the sale, the vice president now directly owns 89,484 shares in the company, valued at approximately $2,197,727.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,354 shares of company stock worth $1,761,331. Corporate insiders own 11.47% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems acquired a new stake in shares of Casella Waste Systems during the fourth quarter valued at $123,000. SG Americas Securities LLC acquired a new stake in shares of Casella Waste Systems during the first quarter valued at $142,000. Aperio Group LLC acquired a new stake in shares of Casella Waste Systems during the fourth quarter valued at $231,000. Citigroup Inc. boosted its stake in shares of Casella Waste Systems by 417.9% during the first quarter. Citigroup Inc. now owns 10,643 shares of the industrial products company’s stock valued at $249,000 after acquiring an additional 8,588 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Casella Waste Systems during the fourth quarter valued at $263,000. 83.10% of the stock is currently 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 northeastern United States. The company operates through Eastern Region, Western Region, 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.