Tuesday, November 24, 2020

Market Analysts see Covanta Holding Corporation [CVA] falling to $13. Time to buy?

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Covanta Holding Corporation [NYSE: CVA] traded at a low on 06/11/20, posting a -8.28 loss after which it closed the day’ session at $8.97. The results of the trading session contributed to over 1978533 shares changing hands. Over the past one week, the price volatility of Covanta Holding Corporation stands at 5.86% while the volatility over the past one month is 5.00%.

The market cap for CVA stock reached $1.18 billion, with 131.00 million shares outstanding and 130.42 million shares in the current float. Compared to the average trading volume of 1.55M shares, CVA reached a trading volume of 1978533 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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What do top market gurus say about Covanta Holding Corporation [CVA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVA shares is $9.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVA stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for Covanta Holding Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 13, 2020. While these analysts kept the previous recommendation, Stifel raised their target price from $6.50 to $9.50. The new note on the price target was released on May 11, 2020, representing the official price target for Covanta Holding Corporation stock. Previously, the target price had yet another drop from $17.50 to $6.50, while Stifel kept a Sell rating on CVA stock. On April 07, 2020, analysts decreased their price target for CVA shares from 18 to 8.

The Average True Range (ATR) for Covanta Holding Corporation is set at 0.55, with the Price to Sales ratio for CVA stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 3.88, with the Price to Cash per share for the same quarter was set at 0.32.

How has CVA stock performed recently?

Covanta Holding Corporation [CVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.92. With this latest performance, CVA shares gained by 7.04% in over the last four-week period, additionally sinking by -39.27% over the last 6 months – not to mention a drop of -49.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVA stock in for the last two-week period is set at 46.71, with the RSI for the last a single of trading hit 41.96, and the three-weeks RSI is set at 48.81 for Covanta Holding Corporation [CVA]. The present Moving Average for the last 50 days of trading for this stock 8.33, while it was recorded at 10.12 for the last single week of trading, and 13.22 for the last 200 days.

Covanta Holding Corporation [CVA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Covanta Holding Corporation [CVA] shares currently have an operating margin of +5.03 and a Gross Margin at +11.55. Covanta Holding Corporation’s Net Margin is presently recorded at +0.53.

Return on Total Capital for CVA is now 3.17, given the latest momentum, and Return on Invested Capital for the company is 0.34. Return on Equity for this stock inclined to 2.32, with Return on Assets sitting at 0.26. When it comes to the capital structure of this company, Covanta Holding Corporation [CVA] has a Total Debt to Total Equity ratio set at 682.98. Additionally, CVA Total Debt to Total Capital is recorded at 87.23, with Total Debt to Total Assets ending up at 69.13. Long-Term Debt to Equity for the company is recorded at 674.73, with the Long-Term Debt to Total Capital now at 86.18.

Reflecting on the efficiency of the workforce at the company, Covanta Holding Corporation [CVA] managed to generate an average of $2,500 per employee. Receivables Turnover for the company is 6.23 with a Total Asset Turnover recorded at a value of 0.49.Covanta Holding Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Earnings analysis for Covanta Holding Corporation [CVA]

With the latest financial reports released by the company, Covanta Holding Corporation posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -166.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Covanta Holding Corporation go to 15.00%.

Insider trade positions for Covanta Holding Corporation [CVA]

There are presently around $977 million, or 78.50% of CVA stock, in the hands of institutional investors. The top three institutional holders of CVA stocks are: CHAI TRUST CO LLC with ownership of 12,949,182, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 12,061,089 shares of the stock with an approximate value of $117.96 million in CVA stocks shares; and BLACKROCK INC., currently with $79.0 million in CVA stock with ownership of nearly -2.765% of the company’s market capitalization.

Positions in Covanta Holding Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 135 institutional holders increased their position in Covanta Holding Corporation [NYSE:CVA] by around 8,008,203 shares. Additionally, 125 investors decreased positions by around 11,395,688 shares, while 38 investors held positions by with 80,488,078 shares. The mentioned changes placed institutional holdings at 99,891,969 shares, according to the latest SEC report filing. CVA stock had 41 new institutional investments in for a total of 3,026,375 shares, while 48 institutional investors sold positions of 2,409,984 shares during the same period.

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