Clean Harbors (NYSE:CLH) Lifted 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 report released on Friday morning.

A number of other brokerages have also recently issued reports on CLH. 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 research note on Thursday, August 1st. Needham & Company LLC lifted their price target on Clean Harbors from $235.00 to $274.00 and gave the stock a buy rating in a research report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Clean Harbors from $223.00 to $256.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Truist Financial boosted their price objective on shares of Clean Harbors from $240.00 to $260.00 and gave the company a buy rating in a report on Thursday, July 11th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $275.00 price target (up previously from $240.00) on shares of Clean Harbors 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $242.40.

Clean Harbors Stock Performance

Shares of CLH stock opened at $238.43 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 34.51 and a beta of 1.20. Clean Harbors has a 52 week low of $132.92 and a 52 week high of $251.65. The firm’s 50-day simple moving average is $237.89 and its two-hundred day simple moving average is $220.22.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.25. The firm had revenue of $1.55 billion for 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 business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 earnings per share. As a group, equities analysts forecast that Clean Harbors will post 7.65 earnings per share for the current year.

Insider Activity at Clean Harbors

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

Institutional Investors Weigh In On Clean Harbors

Institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Clean Harbors during the 2nd quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in Clean Harbors in the 1st quarter valued at $27,000. GAMMA Investing LLC boosted its stake in Clean Harbors by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after purchasing an additional 56 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Clean Harbors in the second quarter valued at about $56,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Clean Harbors in the fourth quarter worth about $50,000. 90.43% of the stock is currently 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.