Casella Waste Systems (NASDAQ:CWST) Hits New 1-Year Low - Here's What Happened

Key Points

• Casella Waste Systems (NASDAQ:CWST) recently reached a 12-month low trading at $85.21, indicating potential investor concerns as the stock was previously priced at $88.46.
• While analysts have mixed opinions, with some rating it a "strong buy" and others an "underweight," the consensus rating remains a "Moderate Buy" with a target price of $114.38.
• The company reported a quarterly revenue increase of 23.4% year-over-year, beating estimates with earnings per share of $0.36, up from $0.22 in the same quarter last year.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $85.21 and last traded at $86.70, with a volume of 1023933 shares changing hands. The stock had previously closed at $88.46.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CWST. Barclays began coverage on Casella Waste Systems in a report on Friday. They issued an "underweight" rating and a $88.00 price objective on the stock. Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Raymond James Financial set a $125.00 price target on Casella Waste Systems and gave the stock a "strong-buy" rating in a research note on Monday, August 4th. William Blair restated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Loop Capital upgraded Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 price target on the stock in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.38.

Casella Waste Systems Stock Performance

The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 494.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.70 and a quick ratio of 1.61. The firm has a 50 day moving average price of $99.73 and a 200-day moving average price of $109.05.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The business had revenue of $465.33 million for the quarter, compared to analysts' expectations of $454.01 million. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%.The company's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of Casella Waste Systems

Several hedge funds have recently modified their holdings of CWST. Alliancebernstein L.P. raised its stake in shares of Casella Waste Systems by 1,106.7% in the second quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company's stock valued at $100,067,000 after acquiring an additional 795,414 shares in the last quarter. Norges Bank acquired a new stake in shares of Casella Waste Systems in the second quarter valued at $55,948,000. Bank of New York Mellon Corp increased its holdings in Casella Waste Systems by 157.6% in the first quarter. Bank of New York Mellon Corp now owns 740,000 shares of the industrial products company's stock valued at $82,517,000 after buying an additional 452,776 shares during the last quarter. Invesco Ltd. increased its holdings in Casella Waste Systems by 20.0% in the second quarter. Invesco Ltd. now owns 2,597,599 shares of the industrial products company's stock valued at $299,711,000 after buying an additional 432,589 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in Casella Waste Systems by 14.4% in the second quarter. Wasatch Advisors LP now owns 3,412,123 shares of the industrial products company's stock valued at $393,691,000 after buying an additional 428,909 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the 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.