Casella Waste Systems (NASDAQ:CWST) Price Target Raised to $99.00

Casella Waste Systems (NASDAQ:CWST) had its price objective increased by JPMorgan Chase & Co. from $91.00 to $99.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Weiss Ratings raised Casella Waste Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 16th. Raymond James Financial restated a “strong-buy” rating and issued a $106.00 price target on shares of Casella Waste Systems in a research note on Friday, October 9th. Zacks Research raised Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. Barclays raised their price target on Casella Waste Systems from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, UBS Group cut shares of Casella Waste Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $122.00 to $95.00 in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Casella Waste Systems Price Performance

Shares of NASDAQ CWST opened at $97.61 on Wednesday. The business’s 50 day moving average price is $88.68 and its two-hundred day moving average price is $88.38. The company has a market cap of $6.21 billion, a PE ratio of 1,084.68 and a beta of 0.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.84. Casella Waste Systems has a twelve month low of $74.05 and a twelve month high of $107.96.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%. The firm had revenue of $543.75 million for the quarter, compared to analyst estimates of $526.43 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, analysts predict that Casella Waste Systems will post 1.22 EPS for the current year.

Insider Activity at Casella Waste Systems

In other news, Director Michael K. Burke sold 1,100 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total transaction of $104,786.00. Following the transaction, the director owned 13,641 shares in the company, valued at approximately $1,299,441.66. This trade represents a 7.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas R. Casella sold 15,157 shares of Casella Waste Systems stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $91.05, for a total value of $1,380,044.85. Following the sale, the director directly owned 91,484 shares of the company’s stock, valued at approximately $8,329,618.20. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,700 shares of company stock worth $1,709,494 in the last ninety days. 3.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yousif Capital Management LLC increased its position in Casella Waste Systems by 13.2% during the 3rd quarter. Yousif Capital Management LLC now owns 19,271 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 2,245 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Casella Waste Systems by 51.2% during the third quarter. Nisa Investment Advisors LLC now owns 2,269 shares of the industrial products company’s stock worth $182,000 after buying an additional 768 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Casella Waste Systems during the third quarter worth $524,000. ZWJ Investment Counsel Inc. boosted its position in shares of Casella Waste Systems by 4.9% in the third quarter. ZWJ Investment Counsel Inc. now owns 4,006 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 188 shares during the period. Finally, WoodTrust Financial Corp boosted its position in shares of Casella Waste Systems by 100.0% in the third quarter. WoodTrust Financial Corp now owns 4,500 shares of the industrial products company’s stock valued at $362,000 after acquiring an additional 2,250 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional solid waste services company founded in 1975 and headquartered in Rutland, Vermont. The company provides collection, transfer, disposal, recycling and organics services for residential, commercial, industrial and municipal customers.

Casella operates an integrated network of solid waste management assets, including transfer stations, recycling facilities, landfills, composting and organics-processing operations, and resource-recovery facilities.