Shares of Covanta Holding Corporation (NYSE:CVA) have been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $16.58.

Several analysts recently weighed in on CVA shares. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Covanta Holding Corporation in a report on Monday, July 17th. Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $15.50 to $17.00 in a report on Monday, July 31st. BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BMO Capital Markets started coverage on shares of Covanta Holding Corporation in a report on Thursday, June 29th. They issued a “market perform” rating and a $16.00 target price on the stock. Finally, Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a report on Monday, May 15th.

A number of hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in Covanta Holding Corporation by 46.6% in the fourth quarter. Teachers Advisors LLC now owns 156,632 shares of the energy company’s stock worth $2,443,000 after buying an additional 49,777 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Covanta Holding Corporation by 49.7% in the first quarter. Nisa Investment Advisors LLC now owns 29,500 shares of the energy company’s stock worth $463,000 after buying an additional 9,800 shares during the last quarter. Huntington National Bank boosted its stake in Covanta Holding Corporation by 3.2% in the first quarter. Huntington National Bank now owns 16,442 shares of the energy company’s stock worth $258,000 after buying an additional 515 shares during the last quarter. Sit Investment Associates Inc. boosted its stake in Covanta Holding Corporation by 270.2% in the first quarter. Sit Investment Associates Inc. now owns 17,400 shares of the energy company’s stock worth $273,000 after buying an additional 12,700 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Covanta Holding Corporation by 17.3% in the first quarter. Wells Fargo & Company MN now owns 566,739 shares of the energy company’s stock worth $8,898,000 after buying an additional 83,547 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors.

Shares of Covanta Holding Corporation (CVA) opened at 14.15 on Tuesday. The stock’s market cap is $1.84 billion. Covanta Holding Corporation has a one year low of $13.00 and a one year high of $16.50. The firm has a 50-day moving average of $13.87 and a 200-day moving average of $14.62.

Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The business had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.22) EPS. On average, equities research analysts expect that Covanta Holding Corporation will post ($0.23) earnings per share for the current fiscal year.

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About Covanta Holding Corporation

Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.

Analyst Recommendations for Covanta Holding Corporation (NYSE:CVA)

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