Needham & Company LLC Has Lowered Expectations for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its price objective dropped by stock analysts at Needham & Company LLC from $274.00 to $268.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price points to a potential upside of 15.03% from the company’s current price.

CLH has been the subject of a number of other reports. StockNews.com raised Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $275.00 price target (up from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Truist Financial increased their price target on Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Oppenheimer increased their price objective on Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Clean Harbors currently has an average rating of “Buy” and a consensus price target of $254.33.

Clean Harbors Stock Performance

Shares of CLH stock opened at $232.99 on Thursday. Clean Harbors has a 12-month low of $146.66 and a 12-month high of $267.11. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 30.34 and a beta of 1.20. The business has a 50 day simple moving average of $246.34 and a 200 day simple moving average of $229.26. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $1.68 earnings per share. On average, equities research analysts anticipate that Clean Harbors will post 7.64 EPS for the current year.

Insider Activity

In other news, Director Lauren States sold 308 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $260.74, for a total value of $80,307.92. Following the completion of the sale, the director now owns 13,150 shares in the company, valued at $3,428,731. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $245.74, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren States sold 308 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $260.74, for a total value of $80,307.92. Following the sale, the director now owns 13,150 shares of the company’s stock, valued at approximately $3,428,731. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,617 shares of company stock worth $2,613,132 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Clean Harbors

Several hedge funds and other institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division increased its position in Clean Harbors by 1.0% during the second quarter. Moody National Bank Trust Division now owns 4,843 shares of the business services provider’s stock worth $1,095,000 after buying an additional 47 shares during the last quarter. Quent Capital LLC increased its position in Clean Harbors by 6.9% during the second quarter. Quent Capital LLC now owns 725 shares of the business services provider’s stock worth $164,000 after buying an additional 47 shares during the last quarter. Fifth Third Bancorp increased its position in Clean Harbors by 10.5% during the second quarter. Fifth Third Bancorp now owns 528 shares of the business services provider’s stock worth $119,000 after buying an additional 50 shares during the last quarter. MJP Associates Inc. ADV increased its position in Clean Harbors by 1.1% during the second quarter. MJP Associates Inc. ADV now owns 4,734 shares of the business services provider’s stock worth $1,071,000 after buying an additional 51 shares during the last quarter. Finally, Signaturefd LLC increased its position in Clean Harbors by 11.8% during the third quarter. Signaturefd LLC now owns 491 shares of the business services provider’s stock worth $119,000 after buying an additional 52 shares during the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

About Clean Harbors

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.