Clean Harbors (NYSE:CLH) Hits New 52-Week High at $247.26

Clean Harbors, Inc. (NYSE:CLH) shares reached a new 52-week high on Monday . The company traded as high as $247.26 and last traded at $244.14, with a volume of 14234 shares trading hands. The stock had previously closed at $243.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial raised their price target on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Oppenheimer raised their price target on shares of Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com raised shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $242.40.

Clean Harbors Stock Performance

The company has a market capitalization of $12.94 billion, a price-to-earnings ratio of 35.09 and a beta of 1.20. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10. The company’s fifty day simple moving average is $235.23 and its two-hundred day simple moving average is $217.02.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.25. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned $2.13 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts predict that Clean Harbors, Inc. will post 7.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the transaction, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at approximately $18,955,400.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $244.09, for a total value of $75,423.81. Following the sale, the director now directly owns 13,458 shares in the company, valued at approximately $3,284,963.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the sale, the chief executive officer now owns 77,136 shares in the company, valued at $18,955,400.64. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Clean Harbors

Several hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Clean Harbors in the 2nd quarter valued at about $305,000. Clearbridge Investments LLC lifted its position in Clean Harbors by 30.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock valued at $239,361,000 after purchasing an additional 248,240 shares during the last quarter. Dana Investment Advisors Inc. lifted its position in Clean Harbors by 366.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 46,645 shares of the business services provider’s stock valued at $10,549,000 after purchasing an additional 36,651 shares during the last quarter. Cetera Investment Advisers lifted its position in Clean Harbors by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 16,626 shares of the business services provider’s stock valued at $3,760,000 after purchasing an additional 1,597 shares during the last quarter. Finally, Ecofi Investissements SA bought a new stake in Clean Harbors in the 2nd quarter valued at about $6,213,000. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.