Casella Waste Systems, Inc. (NASDAQ:CWST) Receives $111.50 Average PT from Brokerages

Casella Waste Systems, Inc. (NASDAQ:CWST) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $114.00.

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating for the company in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Casella Waste Systems from $117.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday. William Blair assumed coverage on Casella Waste Systems in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, Raymond James boosted their price objective on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th.

Casella Waste Systems Stock Performance

NASDAQ CWST opened at $106.06 on Monday. The company has a market cap of $6.72 billion, a P/E ratio of 883.83, a PEG ratio of 6.53 and a beta of 1.02. The company has a fifty day simple moving average of $106.18 and a 200 day simple moving average of $103.41. The company has a current ratio of 2.55, a quick ratio of 2.48 and a debt-to-equity ratio of 0.68. Casella Waste Systems has a 12-month low of $80.04 and a 12-month high of $114.88.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The business had revenue of $411.63 million for the quarter, compared to analyst estimates of $412.59 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. Sell-side analysts predict that Casella Waste Systems will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In related news, SVP Paul Ligon sold 1,730 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the sale, the senior vice president now owns 21,085 shares in the company, valued at approximately $2,252,088.85. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Casella Waste Systems

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in Casella Waste Systems by 6.4% in the 3rd quarter. Amalgamated Bank now owns 2,110 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 126 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Casella Waste Systems by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 7,730 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 135 shares during the period. GAMMA Investing LLC boosted its position in shares of Casella Waste Systems by 76.4% during the second quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Casella Waste Systems by 1.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,436 shares of the industrial products company’s stock worth $1,035,000 after purchasing an additional 183 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in Casella Waste Systems by 3.6% in the second quarter. Crossmark Global Holdings Inc. now owns 5,607 shares of the industrial products company’s stock worth $556,000 after purchasing an additional 195 shares during the period. Institutional investors own 99.51% of the company’s stock.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.