Casella Waste Systems (NASDAQ:CWST) Upgraded to Buy at Loop Capital

Key Points

• Loop Capital has upgraded Casella Waste Systems (NASDAQ:CWST) from a "hold" to a "buy" rating, with a price target of $88.00, indicating a slight potential downside from the current trading price.
• Several analysts have varying ratings for CWST, with an average rating of "Moderate Buy" and a target price of $114.38, significantly higher than Loop Capital's target.
• Casella Waste Systems reported a strong quarterly performance with earnings per share of $0.36, beating estimates and showing a 23.4% revenue increase year-over-year.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) was upgraded by investment analysts at Loop Capital from a "hold" rating to a "buy" rating in a report released on Friday, MarketBeat reports. The brokerage currently has a $88.00 price target on the industrial products company's stock. Loop Capital's target price points to a potential upside of 1.51% from the stock's previous close.

CWST has been the subject of several other reports. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. Barclays assumed coverage on shares of Casella Waste Systems in a research report on Friday. They issued an "underweight" rating and a $88.00 price objective on the stock. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Raymond James Financial set a $125.00 target price on shares of Casella Waste Systems and gave the stock a "strong-buy" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.38.

Casella Waste Systems Stock Down 2.0%

CWST stock traded down $1.77 during midday trading on Friday, reaching $86.69. 1,023,933 shares of the company were exchanged, compared to its average volume of 472,481. The stock's 50-day simple moving average is $100.19 and its 200 day simple moving average is $109.22. Casella Waste Systems has a 1-year low of $85.21 and a 1-year high of $121.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.70. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 481.61 and a beta of 0.84.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Sheets Smith Wealth Management lifted its stake in shares of Casella Waste Systems by 3.9% during the 1st quarter. Sheets Smith Wealth Management now owns 2,767 shares of the industrial products company's stock worth $309,000 after acquiring an additional 103 shares during the last quarter. Moors & Cabot Inc. lifted its stake in Casella Waste Systems by 4.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,469 shares of the industrial products company's stock valued at $275,000 after buying an additional 105 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of Casella Waste Systems by 1.0% during the first quarter. Benjamin Edwards Inc. now owns 10,998 shares of the industrial products company's stock valued at $1,226,000 after acquiring an additional 110 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Casella Waste Systems by 17.3% during the first quarter. Signaturefd LLC now owns 941 shares of the industrial products company's stock valued at $105,000 after buying an additional 139 shares during the last quarter. Finally, Liberty One Investment Management LLC grew its position in Casella Waste Systems by 7.8% during the 2nd quarter. Liberty One Investment Management LLC now owns 1,964 shares of the industrial products company's stock worth $227,000 after purchasing an additional 142 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

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.