Oppenheimer Reaffirms Their Buy Rating on Covanta Holding (CVA)

By Carrie Williams

In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Covanta Holding (CVAResearch Report), with a price target of $10.00. The company’s shares closed last Thursday at $8.69.

According to TipRanks.com, Kaye is a 4-star analyst with an average return of 4.5% and a 53.7% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, Delphi Technologies, and Johnson Controls.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Covanta Holding with a $9.75 average price target, which is an 11.4% upside from current levels. In a report issued on May 13, UBS also upgraded the stock to Buy with a $13.00 price target.

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The company has a one-year high of $18.38 and a one-year low of $6.57. Currently, Covanta Holding has an average volume of 1.59M.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Covanta Holding Corp. engages in the operation and ownership of infrastructure for the conversion of waste to energy, related waste transport and disposal, and other renewable energy production businesses. It operates large-scale Energy-from-Waste and renewable energy projects. The company was founded on April 16, 1992 and is headquartered in Morristown, NJ.