Casella Waste Systems (NASDAQ:CWST) Sees Unusually-High Trading Volume – Here’s What Happened

by · The Cerbat Gem

Shares of Casella Waste Systems, Inc. (NASDAQ:CWST – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,225,698 shares were traded during mid-day trading, an increase of 248% from the previous session’s volume of 352,360 shares.The stock last traded at $117.50 and had previously closed at $118.04.

Analysts Set New Price Targets

Several brokerages have issued reports on CWST. Stifel Nicolaus upped their target price on Casella Waste Systems from $127.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. TD Cowen assumed coverage on shares of Casella Waste Systems in a research report on Wednesday, April 9th. They issued a “buy” rating and a $130.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Casella Waste Systems in a research note on Friday, February 14th. UBS Group raised their price objective on Casella Waste Systems from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Jefferies Financial Group lowered Casella Waste Systems from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $113.00 in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Casella Waste Systems presently has an average rating of “Moderate Buy” and a consensus price target of $122.67.

Read Our Latest Stock Report on CWST

Casella Waste Systems Trading Up 0.3 %

The company has a quick ratio of 2.48, a current ratio of 2.00 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $7.50 billion, a PE ratio of 514.35, a price-to-earnings-growth ratio of 3.86 and a beta of 0.96. The stock’s fifty day moving average price is $111.08 and its two-hundred day moving average price is $108.02.

Casella Waste Systems (NASDAQ:CWST – Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.25. Casella Waste Systems had a return on equity of 4.15% and a net margin of 0.87%. Sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Paul Ligon sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total transaction of $237,340.00. Following the sale, the senior vice president now owns 20,347 shares of the company’s stock, valued at $2,414,578.49. The trade was a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Casella Waste Systems

Several large investors have recently made changes to their positions in the business. Mather Group LLC. grew its stake in shares of Casella Waste Systems by 1,606.7% in the 4th quarter. Mather Group LLC. now owns 256 shares of the industrial products company’s stock worth $27,000 after buying an additional 241 shares during the last quarter. Covestor Ltd increased its holdings in shares of Casella Waste Systems by 124.4% during the fourth quarter. Covestor Ltd now owns 276 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 153 shares in the last quarter. Quarry LP purchased a new position in shares of Casella Waste Systems in the 4th quarter worth about $30,000. NBC Securities Inc. bought a new position in Casella Waste Systems in the 1st quarter worth about $31,000. Finally, Jones Financial Companies Lllp grew its position in Casella Waste Systems by 156.5% during the 4th quarter. Jones Financial Companies Lllp now owns 318 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 194 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Company Profile

(Get Free Report)

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.

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