Price Action to Note: Could Covanta Holding Corp Decline After Today’s Big Increase?

Price Action to Note: Could Covanta Holding Corp Decline After Today's Big Increase?

The stock of Covanta Holding Corp (NYSE:CVA) is a huge mover today! The stock increased 3.81% or $0.55 during the last trading session, hitting $15. About 1.70 million shares traded hands or 94.62% up from the average. Covanta Holding Corp (NYSE:CVA) has declined 13.83% since March 29, 2016 and is downtrending. It has underperformed by 17.31% the S&P500.
The move comes after 9 months positive chart setup for the $1.94 billion company. It was reported on Oct, 31 by Barchart.com. We have $18.60 PT which if reached, will make NYSE:CVA worth $465.60 million more.

Covanta Holding Corp (NYSE:CVA) Ratings Coverage

Out of 9 analysts covering Covanta (NYSE:CVA), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. Covanta has been the topic of 26 analyst reports since October 8, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Equal-Weight” rating in Tuesday, August 9 report. The stock has “Buy” rating given by Stifel Nicolaus on Friday, March 18. Oppenheimer initiated it with “Outperform” rating and $21 target price in Thursday, December 3 report. The stock of Covanta Holding Corp (NYSE:CVA) earned “Hold” rating by Stifel Nicolaus on Monday, December 7. Imperial Capital maintained the stock with “Outperform” rating in Thursday, February 18 report. Macquarie Research initiated Covanta Holding Corp (NYSE:CVA) rating on Friday, August 26. Macquarie Research has “Neutral” rating and $18 price target. Imperial Capital maintained the shares of CVA in a report on Thursday, April 28 with “Outperform” rating. Wedbush maintained Covanta Holding Corp (NYSE:CVA) rating on Tuesday, December 29. Wedbush has “Outperform” rating and $21.0 price target. The rating was initiated by Credit Suisse on Friday, November 6 with “Neutral”. The firm earned “Outperform” rating on Thursday, October 29 by Imperial Capital.

According to Zacks Investment Research, “Covanta Holding Corporation is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. Covanta’s Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy.”

More notable recent Covanta Holding Corp (NYSE:CVA) news were published by: Prnewswire.com which released: “Covanta Holding Corporation Third Quarter 2016 Earnings Conference Call To Be …” on October 11, 2016, also Prnewswire.com with their article: “Covanta Holding Corporation Names Danielle Pletka and Michael W. Ranger to …” published on September 22, 2016, Prnewswire.com published: “Covanta Holding Corporation Second Quarter 2016 Earnings Conference Call to be …” on July 07, 2016. More interesting news about Covanta Holding Corp (NYSE:CVA) were released by: Prnewswire.com and their article: “Covanta Completes Exchange of China Assets for Cash” published on October 03, 2016 as well as Forbes.com‘s news article titled: “Why Covanta Holding Is a Top 10 Utility Dividend Stock (CVA)” with publication date: September 26, 2016.

CVA Company Profile

Covanta Holding Corporation, incorporated on April 16, 1992, is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Firm operates through North America segment, which consists of waste and energy services activities located primarily in the United States and Canada. The energy-from-waste (EfW) serves over two markets as both a sustainable waste management solution and as a source of clean energy.

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