Stifel Nicolaus Reaffirms “Hold” Rating for Casella Waste Systems (CWST)

Stifel Nicolaus reissued their hold rating on shares of Casella Waste Systems (NASDAQ:CWST) in a research note issued to investors on Thursday. Stifel Nicolaus currently has a $22.00 price target on the industrial products company’s stock.

Several other equities analysts have also commented on CWST. Zacks Investment Research lowered shares of Casella Waste Systems from a buy rating to a hold rating in a report on Tuesday, October 3rd. KeyCorp reaffirmed a buy rating on shares of Casella Waste Systems in a report on Friday, October 13th. Finally, BidaskClub raised shares of Casella Waste Systems from a buy rating to a strong-buy rating in a report on Friday, December 29th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $19.00.

Casella Waste Systems (NASDAQ:CWST) traded up $0.63 during mid-day trading on Thursday, hitting $23.52. 190,831 shares of the company traded hands, compared to its average volume of 194,717. The company has a debt-to-equity ratio of -7.91, a quick ratio of 0.91 and a current ratio of 0.98. Casella Waste Systems has a 52 week low of $11.15 and a 52 week high of $23.57. The company has a market cap of $988.85, a price-to-earnings ratio of 38.56 and a beta of 0.72.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The company had revenue of $160.27 million for the quarter, compared to analyst estimates of $154.61 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. equities analysts predict that Casella Waste Systems will post 0.64 earnings per share for the current fiscal year.

In other Casella Waste Systems news, VP Christopher Heald sold 1,500 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $20.25, for a total transaction of $30,375.00. Following the completion of the sale, the vice president now owns 71,451 shares of the company’s stock, valued at approximately $1,446,882.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Casella sold 62,433 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $19.31, for a total transaction of $1,205,581.23. Following the sale, the chief executive officer now directly owns 472,112 shares of the company’s stock, valued at approximately $9,116,482.72. The disclosure for this sale can be found here. Insiders have sold a total of 200,524 shares of company stock valued at $4,077,303 in the last three months. 11.47% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CWST. Macquarie Group Ltd. lifted its position in shares of Casella Waste Systems by 140.9% in the 2nd quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock worth $16,813,000 after purchasing an additional 599,264 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Casella Waste Systems in the 3rd quarter worth about $10,017,000. Epoch Investment Partners Inc. lifted its position in shares of Casella Waste Systems by 171.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 637,775 shares of the industrial products company’s stock worth $11,990,000 after purchasing an additional 403,224 shares during the period. Renaissance Technologies LLC lifted its position in shares of Casella Waste Systems by 13.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,644,942 shares of the industrial products company’s stock worth $43,403,000 after purchasing an additional 322,600 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Casella Waste Systems in the 2nd quarter worth about $5,120,000. 79.30% of the stock is owned by institutional investors and hedge funds.

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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.

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