Today, Casella Waste Systems Inc. (CWST) Rating Decreased to Hold at The Zacks Investment Research

Today, Casella Waste Systems Inc. (CWST) Rating Decreased to Hold at The Zacks Investment Research

Casella Waste Systems Inc. (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “

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

Shares of Casella Waste Systems (NASDAQ:CWST) traded down 2.66% during midday trading on Monday, hitting $12.43. 252,524 shares of the stock traded hands. The firm’s market capitalization is $515.70 million. The company’s 50-day moving average is $11.44 and its 200 day moving average is $9.32. Casella Waste Systems has a 52 week low of $4.97 and a 52 week high of $12.85.

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

Several hedge funds and other institutional investors have recently modified their holdings of CWST. Royal Bank of Canada increased its position in shares of Casella Waste Systems by 954,600.0% in the second quarter. Royal Bank of Canada now owns 381,880 shares of the company’s stock valued at $2,997,000 after buying an additional 381,840 shares in the last quarter. Tygh Capital Management Inc. purchased a new position in shares of Casella Waste Systems during the third quarter valued at about $3,149,000. Ameriprise Financial Inc. increased its position in shares of Casella Waste Systems by 2,470.8% in the third quarter. Ameriprise Financial Inc. now owns 310,424 shares of the company’s stock valued at $3,197,000 after buying an additional 298,349 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in shares of Casella Waste Systems by 222.4% in the third quarter. Monarch Partners Asset Management LLC now owns 260,410 shares of the company’s stock valued at $2,682,000 after buying an additional 179,630 shares in the last quarter. Finally, Skylands Capital LLC increased its position in shares of Casella Waste Systems by 12.2% in the second quarter. Skylands Capital LLC now owns 1,589,712 shares of the company’s stock valued at $12,479,000 after buying an additional 173,062 shares in the last quarter. Hedge funds and other institutional investors own 71.47% of the company’s stock.

About Casella Waste Systems

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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