Casella Waste Systems (CWST) Hits New 1-Year High at $34.48

Casella Waste Systems Inc. (NASDAQ:CWST)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $34.48 and last traded at $30.99, with a volume of 10303 shares. The stock had previously closed at $32.14.

A number of brokerages have recently commented on CWST. ValuEngine upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Monday, August 6th. They noted that the move was a valuation call. Finally, Raymond James boosted their price objective on Casella Waste Systems from $33.00 to $35.00 and gave the company a “strong-buy” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. Casella Waste Systems presently has a consensus rating of “Buy” and a consensus target price of $31.50.

The firm has a market cap of $1.29 billion, a PE ratio of 47.78 and a beta of 0.88.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). Casella Waste Systems had a net margin of 6.30% and a negative return on equity of 74.47%. The business had revenue of $172.83 million for the quarter, compared to analysts’ expectations of $172.77 million. During the same quarter in the previous year, the firm earned $0.30 EPS. Casella Waste Systems’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Casella Waste Systems Inc. will post 0.7 earnings per share for the current year.

In related news, Director Gregory B. Peters sold 3,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $33.31, for a total transaction of $99,930.00. Following the completion of the transaction, the director now owns 92,015 shares in the company, valued at approximately $3,065,019.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David L. Schmitt sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $32.30, for a total value of $323,000.00. Following the transaction, the general counsel now owns 42,006 shares of the company’s stock, valued at approximately $1,356,793.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,845 shares of company stock valued at $1,999,113. 11.47% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP raised its position in Casella Waste Systems by 25.7% during the 3rd quarter. Engineers Gate Manager LP now owns 19,843 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 4,062 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Casella Waste Systems during the 3rd quarter valued at $152,000. Assenagon Asset Management S.A. bought a new stake in Casella Waste Systems during the 3rd quarter valued at $380,000. Oppenheimer Asset Management Inc. raised its position in Casella Waste Systems by 14.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 41,440 shares of the industrial products company’s stock valued at $1,287,000 after purchasing an additional 5,234 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Casella Waste Systems by 14.8% during the 3rd quarter. First Trust Advisors LP now owns 152,646 shares of the industrial products company’s stock valued at $4,741,000 after purchasing an additional 19,713 shares in the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Casella Waste Systems Company Profile (NASDAQ:CWST)

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.

Recommended Story: What is a stock split?

Receive News & Ratings for Casella Waste Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casella Waste Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply