Casella Waste Systems (NASDAQ:CWST) Sets New 1-Year High – What’s Next?

Casella Waste Systems, Inc. (NASDAQ:CWST)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $114.64 and last traded at $113.30, with a volume of 6680 shares changing hands. The stock had previously closed at $113.21.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating for the company in a research note on Friday, November 1st. William Blair assumed coverage on Casella Waste Systems in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Stifel Nicolaus reiterated a “buy” rating and set a $117.00 target price (up from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Finally, Raymond James upped their price target on Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.50.

Casella Waste Systems Stock Performance

The company has a current ratio of 2.55, a quick ratio of 2.48 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 943.42, a price-to-earnings-growth ratio of 6.71 and a beta of 0.99. The company has a 50-day moving average of $103.90 and a 200-day moving average of $102.65.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The firm had revenue of $411.63 million for the quarter, compared to analyst estimates of $412.59 million. During the same period in the prior year, the company posted $0.35 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Casella Waste Systems news, SVP Paul Ligon sold 1,730 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the sale, the senior vice president now directly owns 21,085 shares of the company’s stock, valued at $2,252,088.85. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank grew its stake in shares of Casella Waste Systems by 6.4% in the third quarter. Amalgamated Bank now owns 2,110 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 126 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Casella Waste Systems by 1.8% during the second quarter. Principal Financial Group Inc. now owns 7,730 shares of the industrial products company’s stock valued at $767,000 after buying an additional 135 shares in the last quarter. GAMMA Investing LLC boosted its stake in Casella Waste Systems by 76.4% during the second quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock valued at $32,000 after buying an additional 139 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Casella Waste Systems by 1.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,436 shares of the industrial products company’s stock valued at $1,035,000 after buying an additional 183 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Casella Waste Systems by 3.6% during the second quarter. Crossmark Global Holdings Inc. now owns 5,607 shares of the industrial products company’s stock valued at $556,000 after buying an additional 195 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.