Needham & Company LLC Reaffirms “Buy” Rating for Clean Harbors (NYSE:CLH)

Clean Harbors (NYSE:CLH)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $268.00 price objective on the business services provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 10.84% from the company’s current price.

CLH has been the subject of several other research reports. TD Cowen initiated coverage on shares of Clean Harbors in a research note on Friday, December 6th. They issued a “buy” rating and a $325.00 target price for the company. Truist Financial upped their target price on shares of Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer upped their target price on shares of Clean Harbors from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird reduced their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Clean Harbors currently has an average rating of “Buy” and an average price target of $269.44.

Clean Harbors Stock Performance

CLH opened at $241.80 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. The company’s fifty day moving average price is $242.47 and its two-hundred day moving average price is $241.01. Clean Harbors has a 1-year low of $163.72 and a 1-year high of $267.11. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 31.48 and a beta of 1.24.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts expect that Clean Harbors will post 7.21 EPS for the current fiscal year.

Insider Activity at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 6,051 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the sale, the chief executive officer now directly owns 55,657 shares of the company’s stock, valued at $13,937,625.94. This represents a 9.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren States sold 308 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $239.04, for a total transaction of $73,624.32. Following the sale, the director now directly owns 12,226 shares in the company, valued at approximately $2,922,503.04. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,446 shares of company stock worth $2,112,800. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Clean Harbors by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock worth $834,323,000 after buying an additional 100,394 shares in the last quarter. FMR LLC lifted its holdings in shares of Clean Harbors by 12.0% in the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after buying an additional 187,140 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Clean Harbors by 0.5% in the third quarter. Janus Henderson Group PLC now owns 1,598,915 shares of the business services provider’s stock worth $386,477,000 after buying an additional 7,948 shares in the last quarter. State Street Corp lifted its holdings in shares of Clean Harbors by 1.5% in the third quarter. State Street Corp now owns 1,510,363 shares of the business services provider’s stock worth $365,070,000 after buying an additional 21,662 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after buying an additional 248,240 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other 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.