Covanta Holding Corp. (NYSE:CVA) was upgraded by equities research analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday. The brokerage currently has a $16.00 price target on the stock. Barclays PLC’s target price suggests a potential upside of 7.02% from the company’s current price.
Several other equities analysts have also commented on the company. Zacks Investment Research raised Covanta Holding Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Friday, October 21st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Covanta Holding Corp. in a research note on Friday, September 23rd. Macquarie started coverage on Covanta Holding Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Imperial Capital decreased their price target on Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $17.82.
Shares of Covanta Holding Corp. (NYSE:CVA) opened at 14.95 on Monday. The company has a market cap of $1.93 billion, a P/E ratio of 29.84 and a beta of 0.76. Covanta Holding Corp. has a 12 month low of $12.48 and a 12 month high of $17.75. The company’s 50-day moving average price is $14.71 and its 200-day moving average price is $15.58.
Covanta Holding Corp. (NYSE:CVA) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $421 million for the quarter, compared to analyst estimates of $421.72 million. Covanta Holding Corp. had a negative return on equity of 4.97% and a net margin of 3.88%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities analysts forecast that Covanta Holding Corp. will post ($0.10) EPS for the current fiscal year.
In related news, Director Robert S. Silberman purchased 2,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were bought at an average price of $14.73 per share, for a total transaction of $29,460.00. Following the acquisition, the director now directly owns 66,500 shares in the company, valued at $979,545. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.80% of the company’s stock.
A number of large investors have recently modified their holdings of CVA. GW&K Investment Management LLC increased its stake in shares of Covanta Holding Corp. by 6.3% in the second quarter. GW&K Investment Management LLC now owns 1,307,402 shares of the company’s stock valued at $21,507,000 after buying an additional 77,307 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Covanta Holding Corp. during the second quarter valued at $179,000. BNP Paribas Arbitrage SA increased its stake in shares of Covanta Holding Corp. by 53.3% in the second quarter. BNP Paribas Arbitrage SA now owns 14,431 shares of the company’s stock valued at $237,000 after buying an additional 5,020 shares during the period. Barclays PLC increased its stake in shares of Covanta Holding Corp. by 88.6% in the first quarter. Barclays PLC now owns 32,605 shares of the company’s stock valued at $522,000 after buying an additional 15,319 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Covanta Holding Corp. by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 44,484 shares of the company’s stock valued at $750,000 after buying an additional 5,289 shares during the period. Institutional investors own 80.57% of the company’s stock.
Covanta Holding Corp. Company Profile