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Casella Waste Systems (NASDAQ:CWST) Stock Passes Above 200 Day Moving Average of $79.32

Defense World · Sep 21, 2022 02:31

Casella Waste Systems, Inc. (NASDAQ:CWST – Get Rating)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $79.32 and traded as high as $82.22. Casella Waste Systems shares last traded at $81.87, with a volume of 133,773 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on CWST. StockNews.com upgraded shares of Casella Waste Systems from a "hold" rating to a "buy" rating in a report on Thursday, August 11th. TheStreet upgraded shares of Casella Waste Systems from a "c+" rating to a "b-" rating in a report on Friday, July 29th. Finally, Raymond James raised their price target on shares of Casella Waste Systems from $89.00 to $93.00 and gave the stock a "strong-buy" rating in a report on Monday, August 1st.

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Casella Waste Systems Price Performance

The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 89.97, a PEG ratio of 5.34 and a beta of 0.97. The business's fifty day simple moving average is $81.38 and its 200 day simple moving average is $79.32. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.11 and a quick ratio of 1.03.

Casella Waste Systems (NASDAQ:CWST – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The firm had revenue of $283.67 million during the quarter, compared to analysts' expectations of $252.48 million. Casella Waste Systems had a net margin of 4.69% and a return on equity of 12.27%. The business's revenue was up 31.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. On average, research analysts forecast that Casella Waste Systems, Inc. will post 1.07 EPS for the current year.

Insider Activity

In other news, CFO Edmond Coletta sold 10,000 shares of Casella Waste Systems stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $83.79, for a total transaction 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 $12,431,168.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Edmond Coletta sold 10,000 shares of Casella Waste Systems stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $83.79, for a total transaction 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 $12,431,168.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul Ligon sold 1,250 shares of Casella Waste Systems stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $85.30, for a total transaction of $106,625.00. Following the transaction, the senior vice president now owns 23,540 shares of the company's stock, valued at $2,007,962. The disclosure for this sale can be found here. Insiders sold 36,600 shares of company stock worth $3,079,431 over the last three months. 5.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Casella Waste Systems during the first quarter valued at about $35,000. Trust Co. of Vermont bought a new position in shares of Casella Waste Systems during the second quarter valued at about $42,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Casella Waste Systems during the first quarter valued at about $44,000. Signaturefd LLC lifted 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 valued at $46,000 after purchasing an additional 157 shares in the last quarter. Finally, Homestead Advisers Corp lifted 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 valued at $47,000 after purchasing an additional 131 shares in the last quarter. 96.50% of the stock is owned by institutional investors.

Casella Waste Systems Company Profile

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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.