The Chart of the Day belongs to the waste management company Casella Waste Systems (CWST) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 3/31 the stock gained 14.31%.
Casella Waste Systems, Inc., together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern 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. The company provides non-hazardous solid waste services, including collections, transfer stations, and disposal facilities. In addition, it markets materials, including fibers, corrugated cardboard, newsprint, plastics, glass, ferrous, and aluminum metals. As of January 31, 2023, the company owns and operates 49 solid waste collection operations, 65 transfer stations, 26 recycling facilities, 8 Subtitle D landfills, 3 landfill gas-to-energy facilities, and 1 landfill permitted to accept construction and demolition materials. Casella Waste Systems, Inc. was founded in 1975 and is headquartered in Rutland, Vermont.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 38.41+Weighted Alpha
- 33.85% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 13 new highs and up 12.71% in the last month
- Relative Strength Index 76.64%
- Recently traded at $94.13 with 50 day moving average of $83.74
Fundamental Factors:
- Market Cap $4.85 billion
- P/E 84.28
- Revenue expected to grow 9.00% this year and another 10.20% next year
- Earnings estimated to increase 11.80% this year, an additional .80% next year and continue to compound at an annual rate of 14.90% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 4 strong buy, 1 hold and 1 sell opinions on this stock
- Analysts have price targets from $89 to $105 with a consensus of $99
- The individual investors following the stock on Motley Fool voted 75 to 103 for the stock to not beat the market with the more experienced investors voting 6 to 34 for the same result
- Value Line gave the stock its average rating of 3 with a 18 month price target of $102
- CFRAs MarketScope has a hold with a 12 month price target of $95
- 2,970 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
