Analyst Rating Update on Covanta Holding Corporation (CVA)

Covanta Holding Corporation (NYSE:CVA) : Zacks Investment Research ranks Covanta Holding Corporation (NYSE:CVA) as 3, which is a Hold recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 1.44, which indicates as a Strong Buy.

Covanta Holding Corporation (NYSE:CVA) : Average target price received by Covanta Holding Corporation (NYSE:CVA) is $18.61 with an expected standard deviation of $1.29. The most aggressive target on the stock is $21, whereas the most downbeat target is $17. 9 financial analysts are currently covering the stock.

For the current week, the company shares have a recommendation consensus of Buy. Also, Major Brokerage house, Baird downgrades its ratings on Covanta Holding Corporation (NYSE:CVA). According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on April 29, 2016.

Covanta Holding Corporation (NYSE:CVA): stock turned positive on Tuesday. Though the stock opened at $15.91, the bulls momentum made the stock top out at $16.04 level for the day. The stock recorded a low of $15.67 and closed the trading day at $15.87, in the green by 0.76%. The total traded volume for the day was 1,293,172. The stock had closed at $15.75 in the previous days trading.

In an insider trading activity, 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 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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