JPMorgan Chase & Co. Issues Pessimistic Forecast for Casella Waste Systems (NASDAQ:CWST) Stock Price

Key Points

• JPMorgan lowered Casella Waste Systems’ price target from $105 to $91 while maintaining a “neutral” rating, implying approximately 8.27% upside from the reported $84.05 share price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $110.50, despite differing targets ranging from $91 to $122.
• Casella exceeded quarterly expectations, reporting $0.40 in earnings per share versus a $0.36 consensus estimate and $543.75 million in revenue, up 16.9% year over year; however, insiders sold 18,700 shares worth about $1.71 million over the past 90 days.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $105.00 to $91.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 8.27% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Barclays boosted their price target on Casella Waste Systems from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Zacks Research raised Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 8th. Weiss Ratings cut Casella Waste Systems from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, October 2nd. Finally, UBS Group decreased their target price on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.50.

Casella Waste Systems Price Performance

Shares of NASDAQ CWST traded up $0.33 during trading on Thursday, hitting $84.05. 638,696 shares of the company were exchanged, compared to its average volume of 704,806. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.99 and a quick ratio of 0.99. Casella Waste Systems has a 1 year low of $74.05 and a 1 year high of $107.96. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 933.99 and a beta of 0.78. The firm's fifty day moving average price is $89.25 and its 200 day moving average price is $87.70.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $543.75 million during the quarter, compared to analysts' expectations of $526.43 million. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. The business's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. On average, sell-side analysts expect that Casella Waste Systems will post 1.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Douglas R. Casella sold 1,343 shares of Casella Waste Systems stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $91.12, for a total transaction of $122,374.16. Following the completion of the transaction, the director directly owned 90,141 shares in the company, valued at $8,213,647.92. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael K. Burke sold 1,100 shares of Casella Waste Systems stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total value of $104,786.00. Following the transaction, the director owned 13,641 shares of the company's stock, valued at $1,299,441.66. This represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,700 shares of company stock worth $1,709,494 in the last ninety days. Insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Casella Waste Systems

A number of large investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Casella Waste Systems in the fourth quarter worth $25,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Casella Waste Systems during the second quarter valued at $29,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Casella Waste Systems during the second quarter valued at $36,000. SHP Wealth Management purchased a new stake in Casella Waste Systems during the 4th quarter worth about $43,000. Finally, Versant Capital Management Inc increased its position in Casella Waste Systems by 54.8% during the 3rd quarter. Versant Capital Management Inc now owns 449 shares of the industrial products company's stock worth $36,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional solid waste services company that provides collection, transfer, disposal, recycling and resource-management services. Its operations serve residential, commercial, industrial and municipal customers, including communities, businesses and institutions seeking to manage and recover value from solid waste.

The company's activities include curbside and commercial waste collection, operation of transfer stations and landfills, recycling services, and the processing of organic materials.

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