Casella Waste Systems (CWST) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Casella Waste Systems (NASDAQ:CWST) from a hold rating to a buy rating in a research note released on Monday.

Several other analysts have also recently commented on CWST. Zacks Investment Research raised shares of Casella Waste Systems from a hold rating to a buy rating and set a $24.00 price target on the stock in a research note on Tuesday, December 26th. BidaskClub raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a research note on Friday, December 29th. Stifel Nicolaus reissued a hold rating and set a $22.00 price target on shares of Casella Waste Systems in a research note on Thursday, January 4th. Finally, TheStreet upgraded shares of Casella Waste Systems from a d rating to a c rating in a report on Thursday, March 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $23.60.

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Shares of CWST traded up $0.04 during mid-day trading on Monday, hitting $24.72. 135,956 shares of the company traded hands, compared to its average volume of 252,977. Casella Waste Systems has a one year low of $13.32 and a one year high of $27.38. The company has a debt-to-equity ratio of -12.61, a current ratio of 0.95 and a quick ratio of 0.88. The stock has a market capitalization of $1,012.23, a P/E ratio of 37.15 and a beta of 0.92.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, March 1st. The industrial products company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Casella Waste Systems had a negative net margin of 3.64% and a negative return on equity of 58.61%. The company had revenue of $151.20 million for the quarter, compared to the consensus estimate of $145.30 million. During the same period last year, the company earned $0.05 earnings per share. Casella Waste Systems’s revenue for the quarter was up 5.2% compared to the same quarter last year. analysts anticipate that Casella Waste Systems will post 0.73 EPS for the current year.

In related news, CEO John W. Casella sold 19,571 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.49, for a total value of $518,435.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Edwin D. Johnson sold 10,919 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.48, for a total transaction of $289,135.12. The disclosure for this sale can be found here. Insiders sold 129,625 shares of company stock worth $3,215,250 over the last 90 days. 11.47% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Boston Investment Management Inc. lifted its holdings in Casella Waste Systems by 4.5% in the fourth quarter. Eagle Boston Investment Management Inc. now owns 660,599 shares of the industrial products company’s stock valued at $15,206,000 after buying an additional 28,608 shares during the period. California Public Employees Retirement System lifted 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 valued at $2,423,000 after buying an additional 17,499 shares during the period. Asset Management One Co. Ltd. acquired a new position in Casella Waste Systems in the third quarter valued at approximately $4,529,000. Virginia Retirement Systems ET AL raised its holdings in Casella Waste Systems by 17.8% in the third quarter. Virginia Retirement Systems ET AL now owns 50,200 shares of the industrial products company’s stock worth $944,000 after purchasing an additional 7,600 shares during the period. Finally, Standard Life Aberdeen plc acquired a new stake in Casella Waste Systems in the fourth quarter worth $51,786,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

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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.

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