StockNews.com Downgrades Casella Waste Systems (NASDAQ:CWST) to Sell

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

Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Casella Waste Systems from a “b-” rating to a “c+” rating in a research report on Friday, October 6th. Wolfe Research started coverage on Casella Waste Systems in a report on Tuesday, October 17th. They set an “outperform” rating and a $96.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Casella Waste Systems in a report on Thursday, September 14th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Raymond James dropped their price target on Casella Waste Systems from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Casella Waste Systems currently has an average rating of “Moderate Buy” and an average target price of $99.67.

Casella Waste Systems Stock Performance

Shares of Casella Waste Systems stock opened at $78.58 on Wednesday. Casella Waste Systems has a 52 week low of $72.33 and a 52 week high of $95.78. The company has a market capitalization of $4.55 billion, a PE ratio of 102.05, a price-to-earnings-growth ratio of 5.26 and a beta of 0.94. The stock’s fifty day moving average is $78.20 and its two-hundred day moving average is $84.22. The company has a quick ratio of 2.79, a current ratio of 2.87 and a debt-to-equity ratio of 0.98.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Casella Waste Systems had a net margin of 3.58% and a return on equity of 9.08%. The firm had revenue of $352.70 million for the quarter, compared to analysts’ expectations of $360.67 million. During the same period in the prior year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, analysts expect that Casella Waste Systems will post 0.96 earnings per share for the current year.

Insider Buying and Selling at Casella Waste Systems

In other news, Director William P. Hulligan sold 5,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $79.98, for a total value of $399,900.00. Following the completion of the transaction, the director now directly owns 13,702 shares of the company’s stock, valued at approximately $1,095,885.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director William P. Hulligan sold 5,000 shares of Casella Waste Systems stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $79.98, for a total value of $399,900.00. Following the transaction, the director now owns 13,702 shares of the company’s stock, valued at approximately $1,095,885.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Paul Ligon sold 2,500 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $78.76, for a total transaction of $196,900.00. Following the sale, the senior vice president now directly owns 21,554 shares of the company’s stock, valued at approximately $1,697,593.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,713 shares of company stock valued at $1,430,063. 4.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in Casella Waste Systems by 34.1% in the first quarter. Signaturefd LLC now owns 448 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 114 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Casella Waste Systems by 1.2% in the 1st quarter. CIBC Private Wealth Group LLC now owns 10,299 shares of the industrial products company’s stock worth $851,000 after purchasing an additional 121 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its position in Casella Waste Systems by 0.4% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 28,736 shares of the industrial products company’s stock worth $2,375,000 after purchasing an additional 122 shares during the last quarter. Allworth Financial LP increased its stake in Casella Waste Systems by 10.1% during the 2nd quarter. Allworth Financial LP now owns 1,363 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 125 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in shares of Casella Waste Systems by 1.1% in the second quarter. First Republic Investment Management Inc. now owns 11,951 shares of the industrial products company’s stock worth $869,000 after buying an additional 131 shares during the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.