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 Friday.

CLH has been the subject of a number of other research reports. Robert W. Baird boosted their price objective on Clean Harbors from $242.00 to $268.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Truist Financial lifted their price objective on shares of Clean Harbors from $240.00 to $260.00 and gave the company a buy rating in a research note on Thursday, July 11th. Needham & Company LLC increased their target price on shares of Clean Harbors from $235.00 to $274.00 and gave the stock a buy rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Clean Harbors from $223.00 to $256.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Finally, Oppenheimer increased their price objective on Clean Harbors from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $242.40.

Clean Harbors Stock Down 2.0 %

Shares of CLH opened at $238.43 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. The firm has a market cap of $12.86 billion, a P/E ratio of 34.51 and a beta of 1.20. The company’s 50-day moving average price is $237.89 and its 200 day moving average price is $220.22. Clean Harbors has a 12-month low of $132.92 and a 12-month high of $251.65.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping the consensus estimate of $2.21 by $0.25. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates 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 business posted $2.13 earnings per share. On average, sell-side analysts forecast that Clean Harbors will post 7.65 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

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

Institutional Investors Weigh In On Clean Harbors

Several institutional investors have recently added to or reduced their stakes in CLH. Grayhawk Investment Strategies Inc. acquired a new position in shares of Clean Harbors during the 4th quarter worth about $732,000. Capstone Investment Advisors LLC bought a new stake in Clean Harbors in the fourth quarter valued at approximately $691,000. Mountain Pacific Investment Advisers Inc. ID acquired a new stake in shares of Clean Harbors in the first quarter valued at approximately $14,161,000. Perpetual Ltd boosted its stake in shares of Clean Harbors by 9.6% during the 1st quarter. Perpetual Ltd now owns 52,801 shares of the business services provider’s stock worth $10,629,000 after acquiring an additional 4,606 shares during the period. Finally, Wellington Management Group LLP increased its holdings 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 worth $637,822,000 after acquiring an additional 182,622 shares during the last quarter. 90.43% of the stock is 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.