Clean Harbors (NYSE:CLH) Price Target Raised to $260.00

Clean Harbors (NYSE:CLH) had its price objective lifted by Truist Financial from $240.00 to $260.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Needham & Company LLC reiterated a buy rating and issued a $235.00 target price on shares of Clean Harbors in a research note on Thursday, May 2nd. StockNews.com downgraded shares of Clean Harbors from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Robert W. Baird lifted their target price on shares of Clean Harbors from $235.00 to $240.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Raymond James boosted their price objective on shares of Clean Harbors from $225.00 to $235.00 and gave the company a strong-buy rating in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $220.00 price objective on shares of Clean Harbors in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and an average price target of $218.40.

Clean Harbors Stock Performance

Shares of CLH stock opened at $227.06 on Thursday. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 32.86 and a beta of 1.21. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.72 and a current ratio of 2.07. Clean Harbors has a 52 week low of $132.92 and a 52 week high of $231.15. The firm’s 50-day simple moving average is $219.06 and its two-hundred day simple moving average is $196.67.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. Clean Harbors had a net margin of 6.85% and a return on equity of 16.97%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, equities analysts forecast that Clean Harbors will post 7.47 earnings per share for the current year.

Insider Transactions at Clean Harbors

In other news, Director Lauren States sold 1,148 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $218.14, for a total value of $250,424.72. Following the completion of the sale, the director now directly owns 13,767 shares in the company, valued at approximately $3,003,133.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Lauren States sold 1,148 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $218.14, for a total transaction of $250,424.72. Following the completion of the sale, the director now directly owns 13,767 shares in the company, valued at approximately $3,003,133.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alan S. Mckim sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $215.51, for a total transaction of $10,775,500.00. Following the sale, the insider now owns 2,494,211 shares of the company’s stock, valued at $537,527,412.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,348 shares of company stock worth $12,320,113. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Teachers Retirement System of The State of Kentucky increased its position in Clean Harbors by 40.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 28,935 shares of the business services provider’s stock valued at $4,843,000 after purchasing an additional 8,298 shares during the period. Fulton Bank N.A. increased its position in Clean Harbors by 19.4% during the 4th quarter. Fulton Bank N.A. now owns 2,854 shares of the business services provider’s stock valued at $498,000 after purchasing an additional 464 shares during the period. Covea Finance grew its position in shares of Clean Harbors by 42.9% in the 4th quarter. Covea Finance now owns 10,000 shares of the business services provider’s stock worth $1,745,000 after buying an additional 3,000 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Clean Harbors in the 4th quarter worth about $829,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Clean Harbors in the 4th quarter worth about $25,000. 90.43% of the stock is currently owned by institutional investors.

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.