Casella Waste Systems, Inc. (NASDAQ:CWST) Receives $108.20 Average PT from Brokerages

Casella Waste Systems, Inc. (NASDAQ:CWST) has been given a consensus recommendation of “Buy” by the five research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $108.20.

A number of brokerages recently issued reports on CWST. Raymond James increased their price objective on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Stifel Nicolaus reissued a “buy” rating and issued a $117.00 price target (up previously from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th.

Casella Waste Systems Price Performance

Shares of NASDAQ CWST opened at $98.36 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. The firm has a market capitalization of $5.70 billion, a PE ratio of 317.29, a P/E/G ratio of 7.89 and a beta of 0.99. Casella Waste Systems has a 1-year low of $72.97 and a 1-year high of $109.08. The business’s fifty day moving average price is $104.14 and its two-hundred day moving average price is $99.75.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). Casella Waste Systems had a net margin of 1.35% and a return on equity of 3.83%. The firm had revenue of $377.20 million during the quarter, compared to the consensus estimate of $373.87 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, research analysts expect that Casella Waste Systems will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Casella Waste Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Casella Waste Systems by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 6,533 shares of the industrial products company’s stock valued at $558,000 after acquiring an additional 632 shares during the last quarter. Norges Bank bought a new stake in Casella Waste Systems during the fourth quarter worth approximately $25,106,000. Corient Private Wealth LLC grew its position in Casella Waste Systems by 91.3% in the fourth quarter. Corient Private Wealth LLC now owns 16,904 shares of the industrial products company’s stock worth $1,445,000 after buying an additional 8,066 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Casella Waste Systems in the fourth quarter valued at $28,000. Finally, Parallel Advisors LLC lifted its position in shares of Casella Waste Systems by 232.0% during the 4th quarter. Parallel Advisors LLC now owns 332 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. 99.51% of the stock is owned by institutional investors.

About Casella Waste Systems

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.