Casella Waste Systems (NASDAQ:CWST) Price Target Raised to $122.00

Casella Waste Systems (NASDAQ:CWST) had its target price upped by investment analysts at Raymond James from $121.00 to $122.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “strong-buy” rating on the industrial products company’s stock. Raymond James’ price objective would indicate a potential upside of 20.32% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $117.00 target price (up previously from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft began coverage on Casella Waste Systems in a research note on Thursday, May 23rd. They issued a “hold” rating and a $106.00 target price on the stock. Two investment 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 company. According to MarketBeat, Casella Waste Systems currently has an average rating of “Moderate Buy” and an average price target of $108.20.

Casella Waste Systems Stock Up 0.8 %

Shares of CWST traded up $0.84 on Thursday, hitting $101.40. The company’s stock had a trading volume of 476,764 shares, compared to its average volume of 302,282. The company has a quick ratio of 1.51, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm’s fifty day moving average price is $104.89 and its 200-day moving average price is $99.39. Casella Waste Systems has a fifty-two week low of $72.97 and a fifty-two week high of $109.08. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 327.81, a P/E/G ratio of 9.08 and a beta of 0.99.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). Casella Waste Systems had a net margin of 1.35% and a return on equity of 3.83%. The business had revenue of $377.20 million during the quarter, compared to analyst estimates of $373.87 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Casella Waste Systems’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities research analysts expect that Casella Waste Systems will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Casella Waste Systems in the 2nd quarter valued at $331,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Casella Waste Systems by 4.2% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 29,339 shares of the industrial products company’s stock worth $2,911,000 after buying an additional 1,196 shares during the last quarter. Creative Planning lifted its position in shares of Casella Waste Systems by 25.7% during the 2nd quarter. Creative Planning now owns 15,530 shares of the industrial products company’s stock worth $1,541,000 after buying an additional 3,175 shares during the last quarter. Algert Global LLC bought a new stake in shares of Casella Waste Systems during the 2nd quarter worth $570,000. Finally, Driehaus Capital Management LLC lifted its position in shares of Casella Waste Systems by 4.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 46,795 shares of the industrial products company’s stock worth $4,643,000 after buying an additional 1,997 shares during the last quarter. 99.51% of the stock is owned by institutional investors and hedge funds.

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.