Clean Harbors (NYSE:CLH) Price Target Raised to $240.00 at Truist Financial

Clean Harbors (NYSE:CLH) had its target price boosted by Truist Financial from $210.00 to $240.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Several other analysts have also recently issued reports on the stock. StockNews.com cut shares of Clean Harbors from a strong-buy rating to a buy rating in a research note on Thursday. Robert W. Baird increased their price objective on Clean Harbors from $235.00 to $240.00 and gave the stock an outperform rating in a research report on Thursday. Oppenheimer upped their target price on Clean Harbors from $178.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday, February 22nd. Raymond James raised their price target on Clean Harbors from $225.00 to $235.00 and gave the company a strong-buy rating in a report on Thursday. Finally, Stifel Nicolaus reissued a buy rating and set a $220.00 price objective on shares of Clean Harbors in a report on Monday, April 22nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $216.40.

Clean Harbors Stock Performance

Shares of NYSE:CLH traded up $1.80 during midday trading on Friday, reaching $207.35. 330,570 shares of the company traded hands, compared to its average volume of 310,847. The firm’s fifty day moving average price is $193.88 and its two-hundred day moving average price is $177.20. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 30.01 and a beta of 1.24. The company has a quick ratio of 1.66, a current ratio of 2.07 and a debt-to-equity ratio of 1.20. Clean Harbors has a 12 month low of $132.92 and a 12 month high of $210.26.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.13. Clean Harbors had a return on equity of 16.97% and a net margin of 6.85%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Clean Harbors will post 7.4 earnings per share for the current year.

Insider Activity

In related news, EVP Brian P. Weber sold 7,996 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total value of $1,591,763.72. Following the sale, the executive vice president now directly owns 62,803 shares of the company’s stock, valued at $12,502,193.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Eric W. Gerstenberg sold 15,276 shares of Clean Harbors stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $187.71, for a total transaction of $2,867,457.96. Following the completion of the transaction, the chief executive officer now directly owns 67,374 shares in the company, valued at $12,646,773.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian P. Weber sold 7,996 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total value of $1,591,763.72. Following the completion of the sale, the executive vice president now directly owns 62,803 shares in the company, valued at $12,502,193.21. The disclosure for this sale can be found here. Insiders sold a total of 25,185 shares of company stock worth $4,819,554 in the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new stake in shares of Clean Harbors in the first quarter worth $27,000. Contravisory Investment Management Inc. bought a new position in Clean Harbors in the 4th quarter worth about $25,000. Millburn Ridgefield Corp purchased a new stake in Clean Harbors during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in Clean Harbors during the 3rd quarter valued at about $25,000. Finally, GAMMA Investing LLC raised its holdings in Clean Harbors by 47.9% in the first quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after buying an additional 56 shares during the last quarter. Hedge funds and other 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.