Analyst Price Target Update on Covanta Holding Corporation (NYSE:CVA)

Covanta Holding Corporation (NYSE:CVA) should head towards $18.61 per share according to 9 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $17 per share. The higher price estimate target is at $21 according to the Analysts.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Baird downgrades the rating on Covanta Holding Corporation (NYSE:CVA). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Outperform. The rating by the firm was issued on April 29, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Covanta Holding Corp, Silberman Robert S, had purchased 2,077 shares in a transaction dated on March 3, 2016. The transaction was executed at $14.98 per share with total amount equaling $31,113.

Covanta Holding Corporation (NYSE:CVA) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.07 points or 0.43% at $16.23 with 1,051,884 shares getting traded. Post opening the session at $16.19, the shares hit an intraday low of $16.02 and an intraday high of $16.3375 and the price was in this range throughout the day. The company has a market cap of $2,120 million and the number of outstanding shares have been calculated to be 130,612,402 shares. The 52-week high of Covanta Holding Corporation (NYSE:CVA) is $22.66 and the 52-week low is $12.48.

Covanta Holding Corporation is a holding company. Through its subsidiaries, the Company owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities, which are primarily located in North America, and 11 additional energy generation facilities, including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total, these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure, including 18 transfer stations. The Company also operates, and in some cases has ownership interests in, transfer stations and landfills.

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