TD Cowen Begins Coverage on Clean Harbors (NYSE:CLH)

Analysts at TD Cowen started coverage on shares of Clean Harbors (NYSE:CLH) in a report released on Friday, Marketbeat reports. The firm set a “buy” rating and a $325.00 price target on the business services provider’s stock. TD Cowen’s target price suggests a potential upside of 31.05% from the company’s current price.

A number of other research analysts also recently commented on CLH. Needham & Company LLC reduced their price target on Clean Harbors from $274.00 to $268.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Robert W. Baird reduced their price target on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Oppenheimer increased their target price on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Truist Financial increased their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $261.40.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $248.00 on Friday. The firm has a market capitalization of $13.37 billion, a PE ratio of 32.29 and a beta of 1.22. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76. The business has a 50-day moving average of $252.08 and a two-hundred day moving average of $238.10. Clean Harbors has a 12 month low of $161.39 and a 12 month high of $267.11.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company earned $1.68 EPS. Clean Harbors’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts forecast that Clean Harbors will post 7.21 earnings per share for the current year.

Insider Transactions at Clean Harbors

In related news, EVP Brian P. Weber sold 861 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $261.31, for a total value of $224,987.91. Following the sale, the executive vice president now directly owns 59,346 shares in the company, valued at $15,507,703.26. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Louis Battles sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 77,136 shares in the company, valued at approximately $18,955,400.64. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,447 shares of company stock worth $4,576,829. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Clean Harbors

Several large investors have recently added to or reduced their stakes in CLH. Clearbridge Investments LLC increased 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 acquiring an additional 248,240 shares during the period. Lazard Freres Gestion S.A.S. acquired a new position in shares of Clean Harbors during the 2nd quarter valued at $42,968,000. FMR LLC increased its position in shares of Clean Harbors by 12.0% during the 3rd quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock valued at $422,319,000 after purchasing an additional 187,140 shares during the period. Wellington Management Group LLP increased its position in shares of Clean Harbors by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock valued at $834,323,000 after purchasing an additional 100,394 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Clean Harbors by 20.3% during the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after purchasing an additional 90,756 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

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.