Clean Harbors (NYSE:CLH) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Clean Harbors (NYSE:CLH) from a buy rating to a strong-buy rating in a research note published on Monday.

A number of other equities research analysts have also issued reports on CLH. Robert W. Baird increased their target price on shares of Clean Harbors from $242.00 to $268.00 and gave the stock an outperform rating in a report on Thursday, August 1st. Oppenheimer raised their price objective on shares of Clean Harbors from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, August 1st. Truist Financial upped their price objective on Clean Harbors from $240.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Stifel Nicolaus reaffirmed a buy rating and issued a $275.00 price target (up from $240.00) on shares of Clean Harbors in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on Clean Harbors from $223.00 to $256.00 and gave the company a neutral rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $242.40.

Clean Harbors Trading Up 3.1 %

Shares of Clean Harbors stock opened at $247.27 on Monday. The stock’s 50 day simple moving average is $235.55 and its 200-day simple moving average is $217.18. The stock has a market cap of $13.34 billion, a P/E ratio of 35.78 and a beta of 1.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.76. Clean Harbors has a 1-year low of $132.92 and a 1-year high of $247.74.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.25. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $2.13 EPS. Analysts predict that Clean Harbors will post 7.65 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In related news, Director Lauren States sold 309 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $244.09, for a total value of $75,423.81. Following the sale, the director now directly owns 13,458 shares of the company’s stock, valued at $3,284,963.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael Louis Battles sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the sale, the chief executive officer now directly owns 77,136 shares in the company, valued at $18,955,400.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction on Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the sale, the director now owns 13,458 shares of the company’s stock, valued at approximately $3,284,963.22. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Clean Harbors by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after buying an additional 182,622 shares during the last quarter. Janus Henderson Group PLC boosted its position in Clean Harbors by 5.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock worth $319,371,000 after acquiring an additional 78,848 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Clean Harbors by 30.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after acquiring an additional 248,240 shares during the period. Bessemer Group Inc. boosted its stake in Clean Harbors by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 1,013,449 shares of the business services provider’s stock valued at $204,019,000 after purchasing an additional 12,411 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Clean Harbors by 20.3% in the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after buying an additional 90,756 shares during the period. 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.