Truist Financial Issues Pessimistic Forecast for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its target price cut by stock analysts at Truist Financial from $280.00 to $270.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target would indicate a potential upside of 23.98% from the stock’s current price.

CLH has been the topic of a number of other research reports. BMO Capital Markets dropped their target price on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday. Oppenheimer boosted their target price on shares of Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. TD Cowen assumed coverage on shares of Clean Harbors in a research report on Friday, December 6th. They set a “buy” rating and a $325.00 price target on the stock. StockNews.com cut Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped their price target on Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Clean Harbors currently has a consensus rating of “Buy” and a consensus price target of $270.56.

Clean Harbors Stock Performance

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

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.19. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 earnings per share. On average, equities research analysts expect that Clean Harbors will post 8.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $239.04, for a total transaction of $73,624.32. Following the sale, the director now directly owns 12,226 shares of the company’s stock, valued at approximately $2,922,503.04. This trade represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian P. Weber sold 861 shares of Clean Harbors 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 completion of the transaction, the executive vice president now directly owns 59,346 shares in the company, valued at approximately $15,507,703.26. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,785 shares of company stock worth $444,558 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds have recently added to or reduced their stakes in CLH. Pictet Asset Management Holding SA increased its holdings in Clean Harbors by 72.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock worth $381,602,000 after purchasing an additional 697,630 shares in the last quarter. Norges Bank purchased a new position in Clean Harbors in the fourth quarter worth $136,974,000. Wellington Management Group LLP boosted its position in Clean Harbors by 17.2% in the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock worth $930,707,000 after purchasing an additional 592,341 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Clean Harbors during the 4th quarter valued at $57,956,000. Finally, FMR LLC lifted 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 buying an additional 187,140 shares during the last quarter. 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.