Casella Waste Systems (CWST) Stock Rating Lowered by BidaskClub

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

CWST has been the topic of a number of other reports. Zacks Investment Research lowered shares of Casella Waste Systems from a hold rating to a sell rating in a research note on Wednesday, May 9th. Stifel Nicolaus downgraded shares of Casella Waste Systems from a buy rating to a hold rating and set a $30.00 price objective on the stock. in a report on Monday, August 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $28.00.

Shares of Casella Waste Systems stock opened at $27.92 on Wednesday. Casella Waste Systems has a 52-week low of $16.01 and a 52-week high of $29.75. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of -14.47. The stock has a market cap of $1.24 billion, a PE ratio of 41.67 and a beta of 0.94.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Casella Waste Systems had a negative return on equity of 63.60% and a net margin of 4.79%. The firm had revenue of $165.65 million for the quarter, compared to analyst estimates of $158.95 million. During the same quarter last year, the firm earned $0.25 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. equities analysts anticipate that Casella Waste Systems will post 0.67 earnings per share for the current fiscal year.

In related news, CFO Edmond Coletta sold 33,000 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were 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 legal filing with the SEC, which can be accessed through this link. Also, Director William P. Hulligan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $28.85, for a total transaction of $288,500.00. Following the sale, the director now directly owns 69,484 shares in the company, valued at approximately $2,004,613.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,354 shares of company stock worth $2,049,831. 10.64% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CWST. Deutsche Bank AG boosted its holdings in Casella Waste Systems by 29.2% during the fourth quarter. Deutsche Bank AG now owns 160,135 shares of the industrial products company’s stock worth $3,684,000 after buying an additional 36,235 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Casella Waste Systems in the fourth quarter valued at about $299,000. MetLife Investment Advisors LLC purchased a new stake in shares of Casella Waste Systems in the fourth quarter valued at about $464,000. Wells Fargo & Company MN lifted its holdings in shares of Casella Waste Systems by 237.1% in the first quarter. Wells Fargo & Company MN now owns 829,885 shares of the industrial products company’s stock valued at $19,403,000 after purchasing an additional 583,679 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Casella Waste Systems in the first quarter valued at about $142,000. 83.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Earnings Per Share

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