Trading Report: Today, Casella Waste Systems Inc. (CWST) Lowered by The Zacks Investment Research to “Hold”

Today, Casella Waste Systems Inc. (CWST) Lowered by The Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Casella Waste Systems Inc. (NASDAQ:CWST) from a buy rating to a hold rating in a research report sent to investors on Monday.

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. “

Several other equities analysts have also weighed in on the stock. First Analysis boosted their target price on shares of Casella Waste Systems from $9.50 to $11.50 and gave the company an overweight rating in a report on Monday, August 8th. Wedbush boosted their price target on shares of Casella Waste Systems from $10.00 to $11.00 and gave the company a neutral rating in a research note on Monday, November 7th. Finally, Imperial Capital boosted their price target on shares of Casella Waste Systems from $8.50 to $12.00 and gave the company an outperform rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Casella Waste Systems presently has a consensus rating of Buy and an average target price of $11.30.

Shares of Casella Waste Systems (NASDAQ:CWST) opened at 12.43 on Monday. The firm has a 50-day moving average of $11.44 and a 200 day moving average of $9.32. Casella Waste Systems has a 52 week low of $4.97 and a 52 week high of $12.85. The firm’s market capitalization is $515.70 million.

In related news, Director Gregory B. Peters sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $12.77, for a total transaction of $25,540.00. Following the sale, the director now directly owns 94,670 shares of the company’s stock, valued at approximately $1,208,935.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edmond Coletta sold 8,248 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $12.22, for a total transaction of $100,790.56. Following the sale, the insider now directly owns 158,538 shares in the company, valued at $1,937,334.36. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.

A number of large investors have recently made changes to their positions in CWST. Vanguard Group Inc. increased its stake in shares of Casella Waste Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,188,151 shares of the company’s stock valued at $9,327,000 after buying an additional 24,912 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Casella Waste Systems by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,568,650 shares of the company’s stock valued at $12,314,000 after buying an additional 31,090 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Casella Waste Systems by 63.5% in the second quarter. Acrospire Investment Management LLC now owns 13,833 shares of the company’s stock valued at $109,000 after buying an additional 5,373 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Casella Waste Systems by 4.2% in the second quarter. Nationwide Fund Advisors now owns 25,956 shares of the company’s stock valued at $204,000 after buying an additional 1,057 shares during the last quarter. Finally, I.G. Investment Management LTD. increased its stake in shares of Casella Waste Systems by 0.8% in the second quarter. I.G. Investment Management LTD. now owns 83,556 shares of the company’s stock valued at $656,000 after buying an additional 701 shares during the last quarter. 71.47% of the stock is currently owned by hedge funds and other institutional investors.

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, in the areas of solid waste collection and disposal, transfer, recycling and organics services. Its segments include its two regional segments, Eastern and Western regions, which provide a range of solid waste services; Recycling, which offers recycling operations and its commodity brokerage operations, and Other, including organic services, ancillary operations and industrial services.

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