Stifel Nicolaus Forecasts Strong Price Appreciation for Casella Waste Systems (NASDAQ:CWST) Stock

Casella Waste Systems (NASDAQ:CWST) had its price target increased by equities research analysts at Stifel Nicolaus from $117.00 to $127.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 17.38% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Raymond James boosted their price target on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, William Blair started coverage on shares of Casella Waste Systems in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Casella Waste Systems Trading Down 1.7 %

Shares of Casella Waste Systems stock opened at $108.20 on Wednesday. Casella Waste Systems has a twelve month low of $80.04 and a twelve month high of $114.88. The company has a quick ratio of 2.48, a current ratio of 2.55 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $106.03 and a 200-day moving average price of $103.36. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 901.67, a PEG ratio of 6.59 and a beta of 1.02.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The firm had revenue of $411.63 million for the quarter, compared to analysts’ expectations of $412.59 million. During the same quarter in the prior year, the business earned $0.35 EPS. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts anticipate that Casella Waste Systems will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In other news, SVP Paul Ligon sold 1,730 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $106.81, for a total value of $184,781.30. Following the completion of the sale, the senior vice president now owns 21,085 shares in the company, valued at approximately $2,252,088.85. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Casella Waste Systems

Several hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Casella Waste Systems by 108.0% in the third quarter. Harbor Capital Advisors Inc. now owns 66,129 shares of the industrial products company’s stock worth $6,579,000 after purchasing an additional 34,340 shares during the last quarter. Williams Financial LLC purchased a new stake in shares of Casella Waste Systems in the second quarter worth approximately $2,427,000. Millennium Management LLC lifted its stake in shares of Casella Waste Systems by 667.9% during the 2nd quarter. Millennium Management LLC now owns 48,231 shares of the industrial products company’s stock worth $4,785,000 after acquiring an additional 41,950 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Casella Waste Systems by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,463 shares of the industrial products company’s stock valued at $85,476,000 after acquiring an additional 26,189 shares during the period. Finally, MQS Management LLC bought a new position in Casella Waste Systems in the 3rd quarter valued at $562,000. 99.51% of the stock is currently 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.