Casella Waste Systems, Inc. (NASDAQ:CWST) Receives $123.17 Consensus Price Target from Analysts

Casella Waste Systems, Inc. (NASDAQ:CWST) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $123.1667.

A number of research firms have recently weighed in on CWST. Raymond James Financial set a $125.00 price target on Casella Waste Systems and gave the stock a “strong-buy” rating in a report on Monday, August 4th. William Blair reiterated an “outperform” rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Finally, Cowen reissued a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 6th.

Casella Waste Systems Stock Down 0.9%

Shares of NASDAQ:CWST opened at $98.61 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $110.54 and a two-hundred day moving average of $111.88. The stock has a market cap of $6.26 billion, a P/E ratio of 547.83, a PEG ratio of 4.09 and a beta of 0.83. Casella Waste Systems has a 52-week low of $97.05 and a 52-week high of $121.24.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $465.33 million during the quarter, compared to analysts’ expectations of $454.01 million. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS. On average, research analysts expect that Casella Waste Systems will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Casella Waste Systems

Several hedge funds have recently bought and sold shares of CWST. Wasatch Advisors LP raised its position in Casella Waste Systems by 48.2% in the 4th quarter. Wasatch Advisors LP now owns 2,577,308 shares of the industrial products company’s stock valued at $272,705,000 after purchasing an additional 838,086 shares in the last quarter. Alliancebernstein L.P. raised its position in Casella Waste Systems by 1,106.7% in the 2nd quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company’s stock valued at $100,067,000 after purchasing an additional 795,414 shares in the last quarter. Norges Bank acquired a new stake in Casella Waste Systems in the 2nd quarter valued at about $55,948,000. Bank of New York Mellon Corp raised its position in Casella Waste Systems by 157.6% in the 1st quarter. Bank of New York Mellon Corp now owns 740,000 shares of the industrial products company’s stock valued at $82,517,000 after purchasing an additional 452,776 shares in the last quarter. Finally, Invesco Ltd. raised its position in Casella Waste Systems by 20.0% in the 2nd quarter. Invesco Ltd. now owns 2,597,599 shares of the industrial products company’s stock valued at $299,711,000 after purchasing an additional 432,589 shares in the last quarter. Institutional investors and hedge funds 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.