Casella Waste Systems (NASDAQ:CWST) Rating Lowered to Sell at StockNews.com

Posted by Defense World Staff on Oct 3rd, 2023

Casella Waste Systems (NASDAQ:CWST – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other equities analysts have also recently weighed in on CWST. Raymond James lowered their target price on Casella Waste Systems from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 31st. UBS Group lifted their target price on Casella Waste Systems from $105.00 to $110.00 in a research note on Thursday, June 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Casella Waste Systems in a research note on Thursday, September 14th. They set a “buy” rating and a $100.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.50.

View Our Latest Research Report on CWST

Casella Waste Systems Price Performance

CWST stock opened at $75.30 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.79 and a debt-to-equity ratio of 0.98. Casella Waste Systems has a one year low of $70.07 and a one year high of $95.78. The firm has a market capitalization of $4.36 billion, a PE ratio of 97.79, a P/E/G ratio of 5.04 and a beta of 0.89. The firm has a 50-day moving average of $80.23 and a two-hundred day moving average of $85.04.

Casella Waste Systems (NASDAQ:CWST – Get Free Report) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Casella Waste Systems had a net margin of 3.58% and a return on equity of 9.08%. The firm had revenue of $289.65 million for the quarter, compared to analyst estimates of $301.93 million. During the same period last year, the firm earned $0.36 earnings per share. Casella Waste Systems’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Casella Waste Systems will post 1.01 earnings per share for the current year.

Insider Activity at Casella Waste Systems

In related news, CFO Edmond Coletta sold 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $81.66, for a total value of $816,600.00. Following the completion of the sale, the chief financial officer now owns 156,424 shares in the company, valued at $12,773,583.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO John W. Casella sold 724 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $80.69, for a total value of $58,419.56. Following the sale, the chief executive officer now owns 11,299 shares of the company’s stock, valued at $911,716.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Edmond Coletta sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $81.66, for a total transaction of $816,600.00. Following the transaction, the chief financial officer now owns 156,424 shares of the company’s stock, valued at approximately $12,773,583.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,437 shares of company stock worth $1,488,483. Company insiders own 5.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CWST. Bank of New York Mellon Corp lifted its stake in Casella Waste Systems by 7.2% during the first quarter. Bank of New York Mellon Corp now owns 238,043 shares of the industrial products company’s stock worth $20,865,000 after purchasing an additional 16,077 shares during the period. Private Advisor Group LLC acquired a new position in Casella Waste Systems during the first quarter worth $244,000. MetLife Investment Management LLC raised its stake in Casella Waste Systems by 54.9% during the first quarter. MetLife Investment Management LLC now owns 25,964 shares of the industrial products company’s stock worth $2,276,000 after acquiring an additional 9,202 shares in the last quarter. Synovus Financial Corp raised its stake in Casella Waste Systems by 4.3% during the first quarter. Synovus Financial Corp now owns 11,014 shares of the industrial products company’s stock worth $962,000 after acquiring an additional 456 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in Casella Waste Systems during the first quarter worth $453,000. Institutional investors own 95.28% of the company’s stock.

Casella Waste Systems Company Profile

(Get Free Report)

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern 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.