Key Points
- Director Michael Burke sold 2,305 shares of Casella Waste Systems on May 26 at an average price of $87.56, for total proceeds of about $201,826. After the sale, he still held 14,048 shares, reducing his ownership by 14.10%.
- Casella reported better-than-expected quarterly results, posting EPS of $0.20 versus the $0.10 consensus estimate and revenue of $457.33 million, up 9.6% year over year.
- Wall Street sentiment remains mostly positive, with analysts assigning a Moderate Buy rating on average and a target price of $111.13, even though some firms recently trimmed their price targets.
Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) Director Michael Burke sold 2,305 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the transaction, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Casella Waste Systems Stock Performance
Shares of CWST stock opened at $86.24 on Thursday. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $118.91. The firm's 50 day moving average price is $83.11 and its 200-day moving average price is $92.76. The firm has a market cap of $5.49 billion, a P/E ratio of 784.07 and a beta of 0.77. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38.
Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The firm had revenue of $457.33 million for the quarter, compared to the consensus estimate of $454.49 million. During the same period in the prior year, the firm earned $0.19 EPS. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.
Institutional Investors Weigh In On Casella Waste Systems
Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 184 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Casella Waste Systems in the 4th quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Casella Waste Systems in the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC increased its position in shares of Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 200 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Casella Waste Systems by 180.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $115.00 target price on shares of Casella Waste Systems in a research note on Monday, February 23rd. UBS Group cut their target price on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Finally, Barclays raised shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $101.00 to $102.00 in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $111.13.
View Our Latest Analysis on CWST
Casella Waste Systems Company Profile
(
Get Free Report)
Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.
Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.
Further Reading
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