Needham & Company LLC Reaffirms Buy Rating for Clean Harbors (NYSE:CLH)

Clean Harbors (NYSE:CLH)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $268.00 price target on the business services provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 23.07% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. TD Cowen started coverage on shares of Clean Harbors in a report on Friday, December 6th. They set a “buy” rating and a $325.00 target price on the stock. Oppenheimer boosted their target price on shares of Clean Harbors from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Finally, Truist Financial upped their price objective on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $270.56.

Clean Harbors Trading Up 2.6 %

CLH opened at $217.77 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.76 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $11.74 billion, a PE ratio of 29.35 and a beta of 1.24. Clean Harbors has a 1-year low of $180.24 and a 1-year high of $267.11. The firm has a 50-day moving average price of $233.16 and a two-hundred day moving average price of $242.03.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.36 by $0.19. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $1.82 EPS. Clean Harbors’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Clean Harbors will post 8.08 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In related news, Director Lauren States sold 308 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.79, for a total transaction of $70,467.32. Following the completion of the sale, the director now owns 11,918 shares of the company’s stock, valued at $2,726,719.22. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian P. Weber sold 861 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $261.31, for a total transaction of $224,987.91. Following the sale, the executive vice president now directly owns 59,346 shares of the company’s stock, valued at $15,507,703.26. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,785 shares of company stock worth $444,558. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in Clean Harbors by 72.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock valued at $381,602,000 after purchasing an additional 697,630 shares during the period. Norges Bank acquired a new stake in Clean Harbors during the 4th quarter valued at approximately $136,974,000. Wellington Management Group LLP increased its position in Clean Harbors by 17.2% during the 4th quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock valued at $930,707,000 after purchasing an additional 592,341 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Clean Harbors during the 4th quarter worth approximately $57,956,000. Finally, FMR LLC grew 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 worth $422,319,000 after buying an additional 187,140 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

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.