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 report sent to investors on Friday morning.

Several other research firms also recently weighed in on CLH. Needham & Company LLC upped their price target on shares of Clean Harbors from $235.00 to $274.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Stifel Nicolaus restated a buy rating and issued a $275.00 target price (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. Truist Financial boosted their price target on Clean Harbors from $240.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Robert W. Baird raised their price objective on Clean Harbors from $242.00 to $268.00 and gave the company an outperform rating in a report on Thursday, August 1st. Finally, Oppenheimer upped their target price on shares of Clean Harbors from $245.00 to $252.00 and gave the stock an outperform rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $242.40.

Clean Harbors Stock Performance

NYSE CLH opened at $241.99 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.14. Clean Harbors has a twelve month low of $132.92 and a twelve month high of $251.65. The stock has a 50-day moving average of $238.05 and a 200 day moving average of $220.60. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 35.02 and a beta of 1.20.

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

Insider Activity at Clean Harbors

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

Hedge Funds Weigh In On Clean Harbors

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commerce Bank grew its holdings in Clean Harbors by 3.3% during the 4th quarter. Commerce Bank now owns 2,457 shares of the business services provider’s stock worth $429,000 after acquiring an additional 79 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Clean Harbors by 365.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,071 shares of the business services provider’s stock valued at $187,000 after buying an additional 841 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in Clean Harbors by 230.2% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 710 shares of the business services provider’s stock valued at $124,000 after buying an additional 495 shares during the last quarter. Stifel Financial Corp raised its stake in Clean Harbors by 17.7% in the fourth quarter. Stifel Financial Corp now owns 85,718 shares of the business services provider’s stock valued at $14,959,000 after buying an additional 12,900 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Clean Harbors by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 23,158 shares of the business services provider’s stock worth $4,041,000 after buying an additional 222 shares during the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

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.