Price Action Report: Could Casella Waste Systems Inc. Change Direction After Achieving 52-Week High?

Price Action Report: Could Casella Waste Systems Inc. Change Direction After Achieving 52 Week High?

The stock of Casella Waste Systems Inc. (NASDAQ:CWST) hit a new 52-week high and has $14.60 target or 39.00% above today’s $10.50 share price. The 7 months bullish chart indicates low risk for the $441.20 million company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $14.60 price target is reached, the company will be worth $172.07M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 189,369 shares traded hands or 6.37% up from the average. Casella Waste Systems Inc. (NASDAQ:CWST) has risen 73.69% since February 29, 2016 and is uptrending. It has outperformed by 61.48% the S&P500.

Analysts await Casella Waste Systems Inc. (NASDAQ:CWST) to report earnings on October, 28. They expect $0.08 EPS, 0.00% or $0.00 from last year’s $0.08 per share. CWST’s profit will be $3.36 million for 32.81 P/E if the $0.08 EPS becomes a reality. After $0.13 actual EPS reported by Casella Waste Systems Inc. for the previous quarter, Wall Street now forecasts -38.46% negative EPS growth.

Casella Waste Systems Inc. (NASDAQ:CWST) Ratings Coverage

Out of 5 analysts covering Casella Waste Systems Inc. (NASDAQ:CWST), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Casella Waste Systems Inc. has been the topic of 7 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by Stifel Nicolaus on Monday, May 9 to “Buy”. As per Friday, June 17, the company rating was maintained by First Analysis. As per Thursday, September 3, the company rating was upgraded by Zacks. The stock of Casella Waste Systems Inc. (NASDAQ:CWST) earned “Strong Buy” rating by Raymond James on Tuesday, January 26. The company was downgraded on Wednesday, August 19 by Zacks.

According to Zacks Investment Research, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties.”

Insitutional Activity: The institutional sentiment increased to 1.39 in 2016 Q2. Its up 0.39, from 1 in 2016Q1. The ratio is positive, as 10 funds sold all Casella Waste Systems Inc. shares owned while 26 reduced positions. 15 funds bought stakes while 35 increased positions. They now own 26.83 million shares or 0.26% more from 26.76 million shares in 2016Q1.
Acadian Asset Limited Company, a Massachusetts-based fund reported 26,055 shares. One Trading L P holds 0% or 39,500 shares in its portfolio. Gsa Limited Liability Partnership has 93,974 shares for 0.04% of their US portfolio. Jupiter Asset Mgmt Ltd holds 878,252 shares or 0.26% of its portfolio. Moreover, Broadview Advisors Ltd Com has 0.11% invested in Casella Waste Systems Inc. (NASDAQ:CWST) for 96,000 shares. Jpmorgan Chase holds 0% or 124 shares in its portfolio. Neuberger Berman Gru Limited, a New York-based fund reported 12,000 shares. Axa holds 0% of its portfolio in Casella Waste Systems Inc. (NASDAQ:CWST) for 127,816 shares. Barclays Plc owns 1,489 shares or 0% of their US portfolio. Wells Fargo Mn accumulated 247,459 shares or 0% of the stock. Toronto Dominion Retail Bank accumulated 75,677 shares or 0% of the stock. Cornerstone Mngmt Ltd owns 17,900 shares or 0% of their US portfolio. Dimensional Fund Advisors L P has 1.57M shares for 0.01% of their US portfolio. Goldman Sachs has 0% invested in the company for 204,158 shares. Rmb Cap Management Limited Liability Com last reported 3.27 million shares in the company.

Insider Transactions: Since June 29, 2016, the stock had 0 insider buys, and 6 sales for $246,073 net activity. 2,376 shares were sold by SCHMITT DAVID L, worth $17,972. On Wednesday, June 29 Coletta Edmond sold $49,098 worth of the stock or 6,491 shares. $17,889 worth of Casella Waste Systems Inc. (NASDAQ:CWST) was sold by Heald Christopher. The insider Johnson Edwin D sold $49,098. The insider CASELLA DOUGLAS R sold $43,917. CASELLA JOHN W had sold 9,003 shares worth $68,099.

More notable recent Casella Waste Systems Inc. (NASDAQ:CWST) news were published by: Marketwatch.com which released: “Casella Waste Systems Inc. Cl A” on December 22, 2009, also Moodys.com with their article: “Moody’s upgrades Casella Waste’s CFR to B2; stable outlook” published on September 26, 2016, Nasdaq.com published: “Casella Waste Systems, Inc. Announces Plans for Potential Debt Refinancing” on September 26, 2016. More interesting news about Casella Waste Systems Inc. (NASDAQ:CWST) were released by: Fool.com and their article: “Why Casella Waste Systems Shares Fell nearly 12% in December” published on January 10, 2016 as well as Globenewswire.com‘s news article titled: “Casella Waste Systems, Inc. to Present at Upcoming Investor Conferences” with publication date: May 24, 2016.

CWST Company Profile

Casella Waste Systems, Inc., incorporated on March 1, 1993, is a solid waste services company. The Firm provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. The Company’s operating divisions include its two regional divisions, Eastern and Western regions, which provide a range of solid waste services; Recycling, which offers recycling activities and its commodity brokerage operations, and Other, including organic services, ancillary activities and industrial services. The Firm provides integrated solid waste services in over six states, including Vermont, New Hampshire, New York, Massachusetts, Maine and Pennsylvania. The Firm owns or operates approximately 30 solid waste collection operations, over 40 transfer stations, approximately 20 recycling facilities, over 10 Subtitle D landfills, approximately four landfill gas-to-energy facilities and a landfill permitted to accept construction and demolition (C&D) materials.

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