Casella Waste Systems (NASDAQ:CWST) Sets New 12-Month Low – Here’s What Happened

Casella Waste Systems, Inc. (NASDAQ:CWST)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $82.09 and last traded at $81.93, with a volume of 129591 shares. The stock had previously closed at $84.26.

Analysts Set New Price Targets

CWST has been the topic of several analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $115.00 target price on shares of Casella Waste Systems in a research report on Monday, February 23rd. UBS Group decreased their price objective on Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Jefferies Financial Group set a $120.00 price objective on Casella Waste Systems and gave the company a “buy” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. cut their price objective on Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Barclays increased their target price on shares of Casella Waste Systems from $95.00 to $101.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average price target of $113.11.

Casella Waste Systems Price Performance

The firm’s fifty day moving average price is $98.24 and its 200 day moving average price is $94.92. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.94 billion, a PE ratio of 647.64 and a beta of 0.80.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, February 19th. The industrial products company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. The company had revenue of $469.06 million during the quarter, compared to analysts’ expectations of $471.32 million. Casella Waste Systems had a net margin of 0.43% and a return on equity of 5.17%. Casella Waste Systems’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. As a group, equities analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Insider Transactions at Casella Waste Systems

In other news, CAO Kevin Drohan sold 675 shares of Casella Waste Systems stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $92.61, for a total value of $62,511.75. Following the sale, the chief accounting officer directly owned 7,462 shares of the company’s stock, valued at approximately $691,055.82. The trade was a 8.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bradford John Helgeson sold 405 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $87.73, for a total value of $35,530.65. Following the completion of the sale, the chief financial officer owned 7,342 shares in the company, valued at $644,113.66. This represents a 5.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 15,830 shares of company stock worth $1,454,208. 3.81% of the stock is currently owned by company insiders.

Institutional Trading of Casella Waste Systems

Hedge funds have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new stake in Casella Waste Systems in the fourth quarter worth $25,000. Smartleaf Asset Management LLC raised its stake in Casella Waste Systems by 180.2% during the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 191 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 184 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Casella Waste Systems during the fourth quarter valued at $27,000. Finally, First Horizon Corp purchased a new position in shares of Casella Waste Systems in the 3rd quarter worth $31,000. 99.51% of the stock is owned by hedge funds and other institutional investors.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.