Casella Waste Systems (NASDAQ:CWST) Sets New 12-Month Low - Here's Why

Key Points

• Casella Waste Systems' stock reached a new 52-week low of $97.00 during trading, with a recent close at $97.92.
• Analysts maintain a positive outlook for Casella, with a consensus rating of "Moderate Buy" and a target price of $123.17.
• The company's latest earnings report showed a 23.4% year-over-year revenue growth, with EPS of $0.36, surpassing analysts' expectations.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $97.00 and last traded at $97.92, with a volume of 22270 shares. The stock had previously closed at $98.56.

Wall Street Analysts Forecast Growth

Several analysts have commented on CWST shares. William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Raymond James Financial set a $125.00 target price on Casella Waste Systems and gave the stock a "strong-buy" rating in a research note on Monday, August 4th. Finally, Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.17.

Casella Waste Systems Price Performance

The firm has a market capitalization of $6.14 billion, a P/E ratio of 537.26 and a beta of 0.84. The business has a fifty day moving average of $106.37 and a 200-day moving average of $111.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.70.

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

Hedge Funds Weigh In On Casella Waste Systems

Several hedge funds have recently bought and sold shares of CWST. Maseco LLP acquired a new position in Casella Waste Systems during the 2nd quarter valued at $25,000. Ameritas Advisory Services LLC bought a new position in Casella Waste Systems in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd grew its holdings in Casella Waste Systems by 325.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 217 shares of the industrial products company's stock worth $25,000 after acquiring an additional 166 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after buying an additional 184 shares during the period. Finally, Quarry LP acquired a new position in shares of Casella Waste Systems in the 4th quarter valued at $30,000. 99.51% of the stock is owned by institutional investors and hedge funds.

About Casella Waste Systems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.