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

Key Points

• Casella Waste Systems has a “Moderate Buy” consensus rating from 11 analysts, with seven buys, one strong buy, two holds and one sell. The average 12-month price target is $109.75.
• The company exceeded quarterly expectations, reporting $0.40 in EPS versus the $0.36 consensus and revenue of $543.75 million versus $526.43 million expected. Revenue increased 16.9% year over year.
• CWST shares opened at $92.01, within a 52-week range of $74.05 to $107.96, while insiders sold 18,805 shares worth approximately $1.7 million over the past three months.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $109.75.

Several research analysts have commented on CWST shares. TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Barclays increased their price objective on Casella Waste Systems from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Zacks Research upgraded shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. cut their target price on shares of Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, UBS Group reduced their price target on shares of Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating for the company in a research report on Friday, June 26th.

Casella Waste Systems Stock Performance

NASDAQ CWST opened at $92.01 on Friday. 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 capitalization of $5.86 billion, a PE ratio of 1,022.45 and a beta of 0.74. The company has a fifty day moving average of $92.15 and a two-hundred day moving average of $89.57.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.The business had revenue of $543.75 million for the quarter, compared to analysts' expectations of $526.43 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business's revenue was up 16.9% compared to the same quarter last year. As a group, analysts expect that Casella Waste Systems will post 1.24 earnings per share for the current year.

Insider Buying and Selling at Casella Waste Systems

In other Casella Waste Systems news, Director Douglas R. Casella sold 15,157 shares of Casella Waste Systems stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $91.05, for a total value of $1,380,044.85. Following the transaction, the director directly owned 91,484 shares in the company, valued at approximately $8,329,618.20. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the sale, the director directly owned 14,048 shares of the company's stock, valued at $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,805 shares of company stock worth $1,704,245 over the last three months. 3.78% of the stock is currently owned by insiders.

Institutional Trading of Casella Waste Systems

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Casella Waste Systems by 41.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 98 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Casella Waste Systems by 3.9% during the third quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company's stock worth $377,000 after purchasing an additional 149 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of 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 worth $27,000 after purchasing an additional 184 shares during the period. CIBC Private Wealth Group LLC grew its position in Casella Waste Systems by 46.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company's stock valued at $65,000 after buying an additional 211 shares during the last quarter. Finally, Hilton Head Capital Partners LLC grew its position in Casella Waste Systems by 86.5% in the 1st quarter. Hilton Head Capital Partners LLC now owns 468 shares of the industrial products company's stock valued at $37,000 after buying an additional 217 shares during the last quarter. 99.51% of the stock is owned by institutional investors and hedge funds.

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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