Casella Waste Systems, Inc. (NASDAQ:CWST) Sees Significant Decline in Short Interest

Casella Waste Systems, Inc. (NASDAQ:CWSTGet Rating) was the target of a large decrease in short interest in December. As of December 30th, there was short interest totalling 1,160,000 shares, a decrease of 5.7% from the December 15th total of 1,230,000 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average trading volume of 187,200 shares, the short-interest ratio is presently 6.2 days.

Casella Waste Systems Trading Up 1.0 %

Shares of NASDAQ:CWST opened at $80.80 on Wednesday. The business has a 50-day moving average price of $81.44 and a 200-day moving average price of $80.38. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 77.69, a PEG ratio of 3.29 and a beta of 0.96. Casella Waste Systems has a 52-week low of $63.90 and a 52-week high of $92.75. The company has a quick ratio of 1.09, a current ratio of 1.18 and a debt-to-equity ratio of 1.19.

Casella Waste Systems (NASDAQ:CWSTGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. The company had revenue of $295.27 million during the quarter, compared to analyst estimates of $270.48 million. Casella Waste Systems had a net margin of 5.10% and a return on equity of 12.97%. Casella Waste Systems’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $0.34 EPS. Equities analysts predict that Casella Waste Systems will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CWST. StockNews.com upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Friday, January 6th. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price target on shares of Casella Waste Systems in a research report on Tuesday, October 25th. Bank of America downgraded shares of Casella Waste Systems from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $87.00 to $81.00 in a research report on Friday, January 13th. UBS Group raised Casella Waste Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $95.00 in a research report on Tuesday, January 10th. Finally, Raymond James raised their price objective on Casella Waste Systems from $88.00 to $92.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

Insiders Place Their Bets

In related news, SVP Paul Ligon sold 1,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $78.72, for a total value of $106,429.44. Following the completion of the sale, the senior vice president now owns 22,088 shares in the company, valued at $1,738,767.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Paul Ligon sold 1,352 shares of Casella Waste Systems stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $78.72, for a total value of $106,429.44. Following the completion of the sale, the senior vice president now directly owns 22,088 shares in the company, valued at $1,738,767.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Casella sold 19,385 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $81.66, for a total transaction of $1,582,979.10. Following the completion of the sale, the chief executive officer now directly owns 11,601 shares of the company’s stock, valued at $947,337.66. The disclosure for this sale can be found here. Insiders have sold 70,737 shares of company stock worth $5,738,675 in the last three months. Corporate insiders own 5.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWST. Crossmark Global Holdings Inc. grew its holdings in Casella Waste Systems by 11.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,747 shares of the industrial products company’s stock worth $376,000 after acquiring an additional 506 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Casella Waste Systems by 7.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 243,472 shares of the industrial products company’s stock valued at $18,598,000 after purchasing an additional 16,490 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Casella Waste Systems during the third quarter worth $2,003,000. Glenmede Trust Co. NA grew its position in Casella Waste Systems by 45.7% during the third quarter. Glenmede Trust Co. NA now owns 18,032 shares of the industrial products company’s stock valued at $1,377,000 after buying an additional 5,659 shares during the period. Finally, Balyasny Asset Management LLC purchased a new position in Casella Waste Systems in the third quarter valued at $1,065,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Company Profile

(Get Rating)

Casella Waste Systems, Inc engages in the provision of resource management and services to residential, commercial, municipal and industrial customers, in the areas of solid waste collection, transfer, disposal, recycling and organics services. It operates through the following segments: Eastern Region, Western Region, Recycling and Other segments.

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