Casella Waste Systems, Inc. (NASDAQ:CWST – Get Rating) shares saw unusually-high trading volume on Wednesday . Approximately 6,669 shares were traded during mid-day trading, a decline of 96% from the previous session's volume of 152,327 shares.The stock last traded at $81.22 and had previously closed at $80.71.
Analysts Set New Price Targets
CWST has been the subject of several analyst reports. Raymond James boosted their target price on shares of Casella Waste Systems from $89.00 to $93.00 and gave the company a "strong-buy" rating in a research report on Monday, August 1st. TheStreet upgraded shares of Casella Waste Systems from a "c+" rating to a "b-" rating in a research report on Friday, July 29th. Finally, StockNews.com upgraded shares of Casella Waste Systems from a "hold" rating to a "buy" rating in a research report on Thursday, August 11th.
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Casella Waste Systems Stock Performance
The firm has a market cap of $4.26 billion, a P/E ratio of 89.25, a P/E/G ratio of 5.30 and a beta of 0.97. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.03 and a current ratio of 1.11. The company's 50 day moving average is $78.86 and its 200 day moving average is $78.64.
Casella Waste Systems (NASDAQ:CWST – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $283.67 million during the quarter, compared to the consensus estimate of $252.48 million. Casella Waste Systems had a net
margin of 4.69% and a return on equity of 12.27%. The firm's revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, equities analysts predict that Casella Waste Systems, Inc. will post 1.07 earnings per share for the current fiscal year.
Insider Activity at Casella Waste Systems
In other Casella Waste Systems news, CFO Edmond Coletta sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $83.79, for a total value of $837,900.00. Following the completion of the transaction, the chief financial officer now directly owns 148,361 shares in the company, valued at approximately $12,431,168.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Casella Waste Systems news, CFO Edmond Coletta sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $83.79, for a total value of $837,900.00. Following the completion of the transaction, the chief financial officer now directly owns 148,361 shares in the company, valued at approximately $12,431,168.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas R. Casella sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $84.08, for a total transaction of $1,681,600.00. Following the completion of the transaction, the director now owns 208,773 shares of the company's stock, valued at $17,553,633.84. The disclosure for this sale can be found here. Insiders sold a total of 36,600 shares of company stock valued at $3,079,431 in the last quarter. Insiders own 5.05% of the company's stock.
Institutional Investors Weigh In On Casella Waste Systems
Several large investors have recently modified their holdings of the company. Homestead Advisers Corp increased its position in shares of Casella Waste Systems by 25.3% during the second quarter. Homestead Advisers Corp now owns 649 shares of the industrial products company's stock worth $47,000 after buying an additional 131 shares during the period. First Republic Investment Management Inc. increased its position in shares of Casella Waste Systems by 1.1% during the second quarter. First Republic Investment Management Inc. now owns 11,951 shares of the industrial products company's stock worth $869,000 after buying an additional 131 shares during the period. Signaturefd LLC increased its position in shares of Casella Waste Systems by 43.0% during the first quarter. Signaturefd LLC now owns 522 shares of the industrial products company's stock worth $46,000 after buying an additional 157 shares during the period. US Bancorp DE increased its position in shares of Casella Waste Systems by 4.4% during the second quarter. US Bancorp DE now owns 4,852 shares of the industrial products company's stock worth $353,000 after buying an additional 203 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Casella Waste Systems by 6.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,739 shares of the industrial products company's stock worth $272,000 after buying an additional 216 shares during the period. 96.50% of the stock is currently owned by institutional investors and hedge funds.
About Casella Waste Systems
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Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern 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.
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