Casella Waste Systems (NASDAQ:CWST) Shares Gap Down to $106.73

Casella Waste Systems, Inc. (NASDAQ:CWST)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $106.73, but opened at $101.36. Casella Waste Systems shares last traded at $101.50, with a volume of 647,409 shares trading hands.

Wall Street Analyst Weigh In

CWST has been the topic of several research reports. Deutsche Bank Aktiengesellschaft started coverage on Casella Waste Systems in a report on Thursday, May 23rd. They set a “hold” rating and a $106.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $117.00 target price (up from $110.00) on shares of Casella Waste Systems in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average target price of $104.75.

Casella Waste Systems Price Performance

The firm has a market cap of $5.86 billion, a P/E ratio of 325.97, a P/E/G ratio of 9.08 and a beta of 0.99. 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 business’s 50 day moving average is $104.76 and its two-hundred day moving average is $99.28.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). Casella Waste Systems had a return on equity of 3.83% and a net margin of 1.35%. The business had revenue of $377.20 million during the quarter, compared to the consensus estimate of $373.87 million. During the same period last year, the business posted $0.36 earnings per share. The business’s revenue was up 30.2% on a year-over-year basis. As a group, analysts anticipate that Casella Waste Systems, Inc. will post 0.57 earnings per share for the current year.

Institutional Trading of Casella Waste Systems

Several large investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. bought a new position in Casella Waste Systems during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Casella Waste Systems in the 2nd quarter valued at about $29,000. GAMMA Investing LLC increased its position in Casella Waste Systems by 76.4% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock valued at $32,000 after buying an additional 139 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Casella Waste Systems during the 4th quarter worth approximately $28,000. Finally, Parallel Advisors LLC boosted its holdings in Casella Waste Systems by 232.0% in the fourth quarter. Parallel Advisors LLC now owns 332 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

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.