Fri Sep 20 09:14:50 UTC 2024: ## Casella Waste Systems Stock Gap Down, Analyst Ratings Mixed

**New York, NY** – Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) dropped sharply in pre-market trading on Wednesday, opening at $101.36 after closing at $106.73 the previous day. The stock later settled at $101.50 with a volume of 647,409 shares traded.

The stock’s decline comes amidst mixed analyst sentiment. Raymond James upgraded Casella Waste Systems to a “strong-buy” rating and raised their price target to $122.00, while Stifel Nicolaus reaffirmed a “buy” rating with an increased price target of $117.00. However, Deutsche Bank Aktiengesellschaft assigned a “hold” rating and a $106.00 price target. Overall, analysts have a “Moderate Buy” consensus rating on the stock, with a consensus price target of $108.20.

The stock’s recent performance follows the company’s earnings report released on August 1st. Casella Waste Systems reported earnings per share of $0.22 for the quarter, missing analysts’ estimates of $0.28 by $0.06. Revenue for the quarter reached $377.20 million, slightly exceeding the consensus estimate of $373.87 million.

Institutional investor activity has also been active in recent quarters. Principal Financial Group Inc., GAMMA Investing LLC, State Board of Administration of Florida Retirement System, Harbor Investment Advisory LLC, and Benjamin F. Edwards & Company Inc. all increased their holdings in Casella Waste Systems shares during the last two quarters.

Casella Waste Systems, Inc. operates as a vertically integrated solid waste services company in the United States, offering resource management services to a wide range of customers. The company’s future performance will likely depend on its ability to navigate the current economic climate and continue to grow its operations.

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