Casella Waste Systems, Inc. (NASDAQ:CWST – Get Free Report)’s stock price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $79.25, but opened at $84.82. Casella Waste Systems shares last traded at $86.2450, with a volume of 182,340 shares changing hands.
The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.43% and a return on equity of 5.17%. The company had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. During the same period in the prior year, the business posted $0.19 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped 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 report on Monday, February 23rd. Zacks Research raised shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Barclays upped their target price on shares of Casella Waste Systems from $95.00 to $101.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings cut shares of Casella Waste Systems from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 23rd. Finally, Jefferies Financial Group set a $120.00 target price on shares of Casella Waste Systems and gave the company a “buy” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average target price of $111.00.
Insider Buying and Selling at Casella Waste Systems
In related news, CEO John W. Casella sold 6,726 shares of Casella Waste Systems stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $93.10, for a total value of $626,190.60. Following the transaction, the chief executive officer directly owned 27,989 shares of the company’s stock, valued at $2,605,775.90. This trade represents a 19.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kevin Drohan sold 675 shares of Casella Waste Systems stock in a transaction on Friday, February 27th. The stock was sold at an average price of $92.61, for a total transaction of $62,511.75. Following the transaction, the chief accounting officer owned 7,462 shares in the company, valued at approximately $691,055.82. This trade represents a 8.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 15,830 shares of company stock worth $1,454,208. 3.81% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Casella Waste Systems
Hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new position in shares of Casella Waste Systems during the fourth quarter worth $25,000. Smartleaf Asset Management LLC lifted its holdings in shares of Casella Waste Systems by 180.2% during the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 184 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Casella Waste Systems during the fourth quarter worth $27,000. Finally, First Horizon Corp acquired a new position in shares of Casella Waste Systems during the third quarter worth $31,000. Institutional investors and hedge funds own 99.51% of the company’s stock.
Casella Waste Systems Trading Up 9.9%
The company has a market cap of $5.53 billion, a price-to-earnings ratio of 727.89 and a beta of 0.84. The business’s fifty day moving average price is $85.11 and its 200 day moving average price is $92.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26.
Casella Waste Systems Company Profile
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.
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