StockNews.com Upgrades Clean Harbors (NYSE:CLH) to “Buy”

Clean Harbors (NYSE:CLH) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen started coverage on Clean Harbors in a report on Friday, December 6th. They set a “buy” rating and a $325.00 price target for the company. BMO Capital Markets reduced their price target on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Truist Financial lowered their price objective on Clean Harbors from $280.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $268.00 target price on shares of Clean Harbors in a report on Thursday, February 20th. One equities 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 stock. Based on data from MarketBeat.com, Clean Harbors currently has a consensus rating of “Buy” and an average price target of $266.56.

Clean Harbors Stock Performance

CLH opened at $198.26 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 26.72 and a beta of 1.22. Clean Harbors has a 12-month low of $186.54 and a 12-month high of $267.11. The business has a 50 day moving average of $221.23 and a 200-day moving average of $237.02.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.19. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $1.82 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 308 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $239.04, for a total value of $73,624.32. Following the sale, the director now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric J. Dugas purchased 1,050 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $191.38 per share, with a total value of $200,949.00. Following the acquisition, the chief financial officer now directly owns 24,238 shares in the company, valued at $4,638,668.44. This represents a 4.53 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 3,341 shares of company stock valued at $663,041 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLH. Hantz Financial Services Inc. boosted its stake in shares of Clean Harbors by 1.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,803 shares of the business services provider’s stock valued at $678,000 after purchasing an additional 39 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in Clean Harbors by 8.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 581 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 45 shares during the last quarter. Traynor Capital Management Inc. boosted its position in Clean Harbors by 3.6% in the fourth quarter. Traynor Capital Management Inc. now owns 1,450 shares of the business services provider’s stock valued at $334,000 after buying an additional 50 shares in the last quarter. CIBC Asset Management Inc boosted its position in Clean Harbors by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,563 shares of the business services provider’s stock valued at $378,000 after buying an additional 53 shares in the last quarter. Finally, Williamson Legacy Group LLC grew its stake in shares of Clean Harbors by 1.4% during the fourth quarter. Williamson Legacy Group LLC now owns 3,727 shares of the business services provider’s stock worth $858,000 after buying an additional 53 shares during the last quarter. Institutional investors 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.