Zacks Investment Research downgraded shares of Casella Waste Systems Inc. (NASDAQ:CWST) from a buy rating to a hold rating in a report released on Monday.

According to Zacks, “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. “

Several other equities research analysts also recently issued reports on CWST. Imperial Capital lifted their price objective on Casella Waste Systems from $8.50 to $12.00 and gave the stock an outperform rating in a report on Wednesday, August 3rd. First Analysis boosted their price target on Casella Waste Systems from $9.50 to $11.50 and gave the company an overweight rating in a report on Monday, August 8th. Finally, Wedbush boosted their price target on Casella Waste Systems from $10.00 to $11.00 and gave the company a neutral rating in a report on Monday, November 7th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $11.30.

Casella Waste Systems (NASDAQ:CWST) opened at 12.66 on Monday. The stock’s market cap is $525.24 million. Casella Waste Systems has a 52-week low of $4.97 and a 52-week high of $12.85. The firm has a 50-day moving average price of $11.44 and a 200 day moving average price of $9.32.

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In related news, Director Gregory B. Peters sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $12.77, for a total transaction of $25,540.00. Following the completion of the transaction, the director now owns 94,670 shares in the company, valued at approximately $1,208,935.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edmond Coletta sold 8,248 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $12.22, for a total value of $100,790.56. Following the transaction, the insider now owns 158,538 shares of the company’s stock, valued at approximately $1,937,334.36. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Casella Waste Systems by 814.6% in the second quarter. BlackRock Inc. now owns 13,271 shares of the company’s stock worth $104,000 after buying an additional 11,820 shares in the last quarter. Acrospire Investment Management LLC raised its position in Casella Waste Systems by 63.5% in the second quarter. Acrospire Investment Management LLC now owns 13,833 shares of the company’s stock worth $109,000 after buying an additional 5,373 shares in the last quarter. Chicago Equity Partners LLC bought a new position in Casella Waste Systems during the third quarter worth about $115,000. Dynamic Technology Lab Private Ltd bought a new position in Casella Waste Systems during the second quarter worth about $119,000. Finally, Thompson Davis & CO. Inc. bought a new position in Casella Waste Systems during the third quarter worth about $126,000. Institutional investors and hedge funds own 71.47% of the company’s stock.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, in the areas of solid waste collection and disposal, transfer, recycling and organics services. Its segments include its two regional segments, Eastern and Western regions, which provide a range of solid waste services; Recycling, which offers recycling operations and its commodity brokerage operations, and Other, including organic services, ancillary operations and industrial services.

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