Clean Harbors’ (CLH) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Clean Harbors (NYSE:CLH) in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $268.00 price target on the business services provider’s stock.

A number of other equities research analysts have also issued reports on CLH. TD Cowen started coverage on Clean Harbors in a research note on Friday, December 6th. They set a “buy” rating and a $325.00 price target for the company. Truist Financial boosted their target price on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Clean Harbors from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird lowered their price objective on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer raised their target price on shares of Clean Harbors from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. One equities 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. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $269.44.

Clean Harbors Price Performance

NYSE:CLH opened at $241.80 on Thursday. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 31.48 and a beta of 1.24. 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 simple moving average of $242.47 and a 200-day simple moving average of $241.15. Clean Harbors has a 1 year low of $163.72 and a 1 year high of $267.11.

Clean Harbors (NYSE:CLH) last announced 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). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. Equities analysts forecast that Clean Harbors will post 7.21 EPS for the current year.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 6,051 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the sale, the chief executive officer now directly owns 55,657 shares of the company’s stock, valued at $13,937,625.94. This represents a 9.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Speights sold 610 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total transaction of $146,485.40. Following the transaction, the insider now directly owns 39,160 shares in the company, valued at approximately $9,403,882.40. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,446 shares of company stock worth $2,112,800 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in shares of Clean Harbors by 63.4% in the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 83 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Clean Harbors in the 2nd quarter valued at $56,000. Prospera Private Wealth LLC acquired a new position in shares of Clean Harbors during the 3rd quarter worth about $56,000. CENTRAL TRUST Co boosted its holdings in shares of Clean Harbors by 161.6% in the 3rd quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock valued at $63,000 after buying an additional 160 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Clean Harbors by 42.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 291 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

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.