Casella Waste Systems (CWST) Downgraded by BidaskClub

Casella Waste Systems (NASDAQ:CWST) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Stifel Nicolaus upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Wednesday, January 24th. TheStreet upgraded Casella Waste Systems from a “d” rating to a “c” rating in a report on Thursday, March 1st. UBS started coverage on Casella Waste Systems in a report on Wednesday, March 14th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, ValuEngine upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.60.

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Shares of CWST traded down $0.54 during trading hours on Wednesday, reaching $24.56. The company’s stock had a trading volume of 21,471 shares, compared to its average volume of 242,367. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 36.66 and a beta of 0.92. Casella Waste Systems has a 1-year low of $24.49 and a 1-year high of $25.24. The company has a debt-to-equity ratio of -12.75, a current ratio of 1.00 and a quick ratio of 0.88.

Casella Waste Systems (NASDAQ:CWST) last issued its 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. The company had revenue of $147.50 million for the quarter, compared to the consensus estimate of $139.13 million. Casella Waste Systems had a negative return on equity of 53.97% and a negative net margin of 4.16%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. equities research analysts expect that Casella Waste Systems will post 0.73 earnings per share for the current fiscal year.

In related news, General Counsel David L. Schmitt sold 3,108 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $26.53, for a total value of $82,455.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher Heald sold 2,883 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $26.51, for a total value of $76,428.33. The disclosure for this sale can be found here. Insiders sold 129,625 shares of company stock worth $3,215,250 in the last 90 days. 10.64% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CWST. Schwab Charles Investment Management Inc. increased its holdings in Casella Waste Systems by 131.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 194,574 shares of the industrial products company’s stock worth $3,658,000 after buying an additional 110,474 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Casella Waste Systems by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,033,357 shares of the industrial products company’s stock worth $38,227,000 after buying an additional 16,972 shares during the last quarter. California Public Employees Retirement System increased its holdings in Casella Waste Systems by 15.7% in the third quarter. California Public Employees Retirement System now owns 128,899 shares of the industrial products company’s stock worth $2,423,000 after buying an additional 17,499 shares during the last quarter. Boston Advisors LLC increased its holdings in Casella Waste Systems by 31.0% in the fourth quarter. Boston Advisors LLC now owns 319,850 shares of the industrial products company’s stock worth $7,363,000 after buying an additional 75,630 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Casella Waste Systems in the fourth quarter worth approximately $7,653,000. Hedge funds and other institutional investors own 80.60% of the company’s stock.

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 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.

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