Casella Waste Systems, Inc. (NASDAQ:CWST) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a $19.00 price target on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 3.09% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Casella Waste Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Barclays PLC initiated coverage on Casella Waste Systems in a research note on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.83.

Shares of Casella Waste Systems (NASDAQ:CWST) opened at 18.43 on Wednesday. The firm’s market cap is $774.72 million. Casella Waste Systems has a 12-month low of $10.31 and a 12-month high of $19.13. The company’s 50 day moving average price is $17.47 and its 200-day moving average price is $15.77.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. The business had revenue of $154.02 million during the quarter, compared to the consensus estimate of $149.88 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Casella Waste Systems will post $0.61 EPS for the current year.

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In other news, Director Michael K. Burke sold 31,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $564,795.00. Following the completion of the sale, the director now owns 116,514 shares in the company, valued at $2,089,096.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William P. Hulligan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $16.15, for a total value of $323,000.00. Following the sale, the director now owns 96,760 shares of the company’s stock, valued at approximately $1,562,674. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its position in Casella Waste Systems by 0.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,853 shares of the industrial products company’s stock valued at $322,000 after buying an additional 151 shares during the last quarter. Bogle Investment Management L P DE increased its stake in Casella Waste Systems by 0.3% in the 1st quarter. Bogle Investment Management L P DE now owns 177,337 shares of the industrial products company’s stock valued at $2,502,000 after buying an additional 579 shares during the period. ClariVest Asset Management LLC increased its stake in Casella Waste Systems by 1.0% in the 1st quarter. ClariVest Asset Management LLC now owns 69,700 shares of the industrial products company’s stock valued at $984,000 after buying an additional 700 shares during the period. The Manufacturers Life Insurance Company increased its stake in Casella Waste Systems by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,060 shares of the industrial products company’s stock valued at $526,000 after buying an additional 1,016 shares during the period. Finally, American International Group Inc. increased its stake in Casella Waste Systems by 7.1% in the 1st quarter. American International Group Inc. now owns 23,804 shares of the industrial products company’s stock valued at $336,000 after buying an additional 1,570 shares during the period. 77.40% of the stock is owned by hedge funds and other institutional investors.

About Casella Waste Systems

Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.

Analyst Recommendations for Casella Waste Systems (NASDAQ:CWST)

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