Casella Waste Systems, Inc. (NASDAQ:CWST) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 927,800 shares, a growth of 31.3% from the September 15th total of 706,500 shares. Based on an average trading volume of 252,700 shares, the days-to-cover ratio is presently 3.7 days.
CWST traded down $0.31 during trading on Friday, reaching $60.91. The company had a trading volume of 92,999 shares, compared to its average volume of 309,577. The stock has a market cap of $2.95 billion, a P/E ratio of 84.60 and a beta of 0.93. The business has a 50 day simple moving average of $56.45 and a 200-day simple moving average of $51.68. Casella Waste Systems has a 52 week low of $34.35 and a 52 week high of $61.77. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 4.04.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Monday, August 3rd. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. Casella Waste Systems had a return on equity of 36.07% and a net margin of 4.52%. The business had revenue of $188.80 million during the quarter, compared to the consensus estimate of $183.16 million. During the same period last year, the company earned $0.27 earnings per share. The business's revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts expect that Casella Waste Systems will post 0.65 EPS for the current fiscal year.
In other Casella Waste Systems news, COO Edwin D. Johnson sold 10,000 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $54.55, for a total transaction of $545,500.00. Following the completion of the sale, the chief operating officer now directly owns 192,466 shares of the company's stock, valued at approximately $10,499,020.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James E. Oconnor sold 7,390 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $56.35, for a total transaction of $416,426.50. Following the sale, the director now directly owns 17,141 shares of the company's stock, valued at $965,895.35. The disclosure for this sale can be found here. Insiders sold a total of 32,623 shares of company stock valued at $1,805,692 over the last three months. 7.71% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its position in shares of Casella Waste Systems by 36.6% during the second quarter. Flagship Harbor Advisors LLC now owns 1,882 shares of the industrial products company's stock worth $98,000 after purchasing an additional 504 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Casella Waste Systems during the second quarter worth $28,000. Nisa Investment Advisors LLC bought a new stake in shares of Casella Waste Systems in the second quarter valued at about $28,000. Private Advisor Group LLC bought a new stake in shares of Casella Waste Systems in the second quarter valued at about $33,000. Finally, American International Group Inc. raised its holdings in shares of Casella Waste Systems by 3.8% in the second quarter. American International Group Inc. now owns 28,173 shares of the industrial products company's stock valued at $1,468,000 after acquiring an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.
A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Casella Waste Systems from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, October 9th. Stifel Nicolaus raised shares of Casella Waste Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $52.00 to $60.00 in a report on Thursday, September 24th. Zacks Investment Research lowered shares of Casella Waste Systems from a "buy" rating to a "hold" rating in a report on Tuesday, October 6th. Berenberg Bank assumed coverage on shares of Casella Waste Systems in a report on Thursday. They issued a "buy" rating and a $73.00 target price for the company. Finally, TheStreet raised shares of Casella Waste Systems from a "c+" rating to a "b" rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of "Buy" and a consensus target price of $61.67.
About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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