Casella Waste Systems, Inc. (NASDAQ:CWST) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Casella Waste Systems received a consensus analyst rating of “Moderate Buy” from 12 brokerages, with an average 12-month price target of about $111.13.
• The company’s latest quarterly results beat expectations, posting $0.20 EPS versus the $0.10 estimate and revenue of $457.33 million, up 9.6% year over year.
• Insiders have recently trimmed holdings, including sales by Director John W. Casella and CEO Edmond Coletta, while institutional investors continue to own 99.51% of the stock.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $111.1250.

A number of research analysts have weighed in on CWST shares. JPMorgan Chase & Co. dropped their target price on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Raymond James Financial restated a "strong-buy" rating and set a $115.00 price target on shares of Casella Waste Systems in a research note on Monday, February 23rd. Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Barclays upgraded shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $101.00 to $102.00 in a research note on Monday, May 4th. Finally, UBS Group dropped their price target on shares of 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.

Casella Waste Systems Price Performance

CWST opened at $85.90 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 780.98 and a beta of 0.77. Casella Waste Systems has a twelve month low of $74.05 and a twelve month high of $118.91. The company's 50-day moving average price is $83.54 and its two-hundred day moving average price is $92.55.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million for the quarter, compared to analysts' expectations of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, equities analysts expect that Casella Waste Systems will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Casella Waste Systems

In related news, Director John W. Casella sold 1,744 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $87.77, for a total transaction of $153,070.88. Following the sale, the director directly owned 30,795 shares in the company, valued at approximately $2,702,877.15. This represents a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares in the company, valued at $12,548,968.08. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,422 shares of company stock valued at $1,729,647. 3.78% of the stock is owned by corporate insiders.

Institutional Trading of Casella Waste Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Casella Waste Systems by 41.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock worth $33,000 after acquiring an additional 98 shares during the period. Mackenzie Financial Corp increased its holdings in Casella Waste Systems by 3.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company's stock worth $377,000 after acquiring an additional 149 shares during the period. First Horizon Corp increased its holdings in Casella Waste Systems by 48.6% during the 4th quarter. First Horizon Corp now owns 489 shares of the industrial products company's stock worth $48,000 after acquiring an additional 160 shares during the period. Geneos Wealth Management Inc. increased its holdings in Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after acquiring an additional 184 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Casella Waste Systems by 180.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock worth $27,000 after acquiring an additional 191 shares during the period. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Company Profile

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.

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