Casella Waste Systems (CWST) Upgraded to Buy by Zacks Investment Research

Casella Waste Systems (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $29.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.15% from the stock’s current price.

According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “

Other equities research analysts have also recently issued research reports about the stock. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, November 3rd. Stifel Nicolaus upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, January 24th. Finally, BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 29th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $21.20.

Shares of Casella Waste Systems (CWST) traded up $0.32 during mid-day trading on Thursday, reaching $26.57. 130,202 shares of the company traded hands, compared to its average volume of 196,742. Casella Waste Systems has a 52 week low of $11.48 and a 52 week high of $27.38. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of -7.91. The stock has a market capitalization of $1,106.15, a PE ratio of -20.44 and a beta of 0.79.

In other news, insider Edmond Coletta sold 13,000 shares of Casella Waste Systems stock in a transaction on Monday, November 27th. The shares were sold at an average price of $19.60, for a total transaction of $254,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Heald sold 1,500 shares of Casella Waste Systems stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $20.25, for a total transaction of $30,375.00. Following the transaction, the vice president now owns 71,451 shares in the company, valued at approximately $1,446,882.75. The disclosure for this sale can be found here. Insiders have sold a total of 128,591 shares of company stock worth $2,682,077 in the last quarter. Corporate insiders own 11.47% of the company’s stock.

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Casella Waste Systems by 7.3% during the 2nd quarter. State Street Corp now owns 707,702 shares of the industrial products company’s stock worth $11,615,000 after acquiring an additional 47,955 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Casella Waste Systems by 18.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 84,100 shares of the industrial products company’s stock valued at $1,381,000 after purchasing an additional 13,000 shares during the period. 361 Capital LLC raised its position in shares of Casella Waste Systems by 355.9% during the 3rd quarter. 361 Capital LLC now owns 121,798 shares of the industrial products company’s stock valued at $2,290,000 after purchasing an additional 95,084 shares during the period. California Public Employees Retirement System raised its position in shares of Casella Waste Systems by 15.7% during the 3rd quarter. California Public Employees Retirement System now owns 128,899 shares of the industrial products company’s stock valued at $2,423,000 after purchasing an additional 17,499 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Casella Waste Systems by 8.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 104,680 shares of the industrial products company’s stock valued at $1,717,000 after purchasing an additional 8,547 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

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Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.

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