Short Interest in Clean Harbors, Inc. (NYSE:CLH) Declines By 6.2%

Clean Harbors, Inc. (NYSE:CLH – Get Rating) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 528,700 shares, a drop of 6.2% from the February 13th total of 563,800 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 332,100 shares, the days-to-cover ratio is currently 1.6 days.

Clean Harbors Price Performance

NYSE CLH opened at $136.40 on Wednesday. The company has a 50-day moving average price of $128.76 and a 200-day moving average price of $120.93. The firm has a market capitalization of $7.38 billion, a P/E ratio of 17.86 and a beta of 1.37. Clean Harbors has a 52 week low of $81.56 and a 52 week high of $140.69. The company has a quick ratio of 1.68, a current ratio of 1.99 and a debt-to-equity ratio of 1.26.

Clean Harbors (NYSE:CLH – Get Rating) last released its earnings results on Wednesday, March 1st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Clean Harbors had a net margin of 7.97% and a return on equity of 22.03%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. Equities research analysts anticipate that Clean Harbors will post 6.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CLH. Needham & Company LLC lifted their price objective on Clean Harbors from $140.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. BMO Capital Markets lifted their price objective on Clean Harbors from $132.00 to $154.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. Raymond James lifted their price objective on Clean Harbors from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Sunday, March 5th. Finally, Oppenheimer lifted their price objective on Clean Harbors from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $145.00.

Insider Buying and Selling at Clean Harbors

In other news, COO Eric W. Gerstenberg sold 16,409 shares of Clean Harbors stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $116.02, for a total value of $1,903,772.18. Following the completion of the transaction, the chief operating officer now owns 61,332 shares of the company’s stock, valued at approximately $7,115,738.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Robert Speights sold 3,327 shares of Clean Harbors stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of $113.71, for a total value of $378,313.17. Following the completion of the transaction, the insider now owns 36,340 shares of the company’s stock, valued at approximately $4,132,221.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Eric W. Gerstenberg sold 16,409 shares of Clean Harbors stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $116.02, for a total value of $1,903,772.18. Following the completion of the transaction, the chief operating officer now directly owns 61,332 shares of the company’s stock, valued at approximately $7,115,738.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,296 shares of company stock valued at $3,987,096. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Signaturefd LLC increased its holdings in Clean Harbors by 112.3% in the 3rd quarter. Signaturefd LLC now owns 225 shares of the business services provider’s stock worth $25,000 after acquiring an additional 119 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in Clean Harbors by 122.1% during the 4th quarter. Ronald Blue Trust Inc. now owns 231 shares of the business services provider’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Accurate Wealth Management LLC purchased a new stake in Clean Harbors during the 4th quarter valued at approximately $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Clean Harbors by 76.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 264 shares of the business services provider’s stock valued at $30,000 after buying an additional 114 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Clean Harbors during the 4th quarter valued at approximately $32,000. 88.13% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Company Profile

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Clean Harbors, Inc engages in the provision of environmental, energy, and industrial services. It operates through the Environmental Services and the Safety-Kleen Sustainability Solutions segments. The Environmental Services segment consists of the technical services, industrial services, field services, and oil, gas, and lodging businesses.