Casella Waste Systems Inc. (CWST) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Casella Waste Systems Inc. (NASDAQ:CWST) from a hold rating to a strong-buy rating in a report released on Tuesday morning. They currently have $12.00 price objective on the stock.
According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “
A number of other research firms have also recently issued reports on CWST. First Analysis lifted their price target on shares of Casella Waste Systems from $8.00 to $9.00 and gave the company an overweight rating in a research note on Friday, June 17th. Imperial Capital dropped their price target on shares of Casella Waste Systems from $12.00 to $8.50 and set an outperform rating on the stock in a research note on Wednesday, August 3rd. Stifel Nicolaus set a $10.00 price target on shares of Casella Waste Systems and gave the company a buy rating in a research note on Wednesday, July 27th. Finally, KeyCorp reissued a buy rating on shares of Casella Waste Systems in a research note on Thursday, July 14th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $10.50.
Casella Waste Systems (NASDAQ:CWST) opened at 10.45 on Tuesday. The firm’s 50-day moving average is $9.34 and its 200-day moving average is $8.10. Casella Waste Systems has a 52-week low of $4.97 and a 52-week high of $10.71. The company’s market cap is $433.55 million.
Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company earned $144.67 million during the quarter, compared to analyst estimates of $145.37 million. During the same period in the prior year, the business posted $0.03 EPS. Casella Waste Systems’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that Casella Waste Systems will post $0.04 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. AXA bought a new stake in shares of Casella Waste Systems during the first quarter valued at about $612,000. Skylands Capital LLC increased its position in Casella Waste Systems by 12.2% in the second quarter. Skylands Capital LLC now owns 1,589,712 shares of the company’s stock valued at $12,479,000 after buying an additional 173,062 shares in the last quarter. Aristotle Capital Boston LLC increased its position in Casella Waste Systems by 1.1% in the second quarter. Aristotle Capital Boston LLC now owns 360,509 shares of the company’s stock valued at $2,830,000 after buying an additional 3,751 shares in the last quarter. Geode Capital Management LLC increased its position in Casella Waste Systems by 0.4% in the first quarter. Geode Capital Management LLC now owns 264,593 shares of the company’s stock valued at $1,772,000 after buying an additional 1,072 shares in the last quarter. Finally, State Street Corp increased its position in Casella Waste Systems by 3.1% in the first quarter. State Street Corp now owns 579,252 shares of the company’s stock valued at $3,878,000 after buying an additional 17,157 shares in the last quarter. Hedge funds and other institutional investors own 65.65% of the company’s stock.
Casella Waste Systems Company Profile
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, in the areas of solid waste collection and disposal, transfer, recycling and organics services. Its segments include its two regional segments, Eastern and Western regions, which provide a range of solid waste services; Recycling, which offers recycling operations and its commodity brokerage operations, and Other, including organic services, ancillary operations and industrial services.
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