Clean Harbors (NYSE:CLH) Trading 5.5% Higher Following Earnings Beat

Clean Harbors, Inc. (NYSE:CLH) traded up 5.5% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $201.39 and last traded at $199.95. 63,764 shares changed hands during trading, a decline of 80% from the average session volume of 316,937 shares. The stock had previously closed at $189.45.

The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. Clean Harbors had a return on equity of 17.83% and a net margin of 6.99%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $1.36 earnings per share. Clean Harbors’s quarterly revenue was up 5.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Clean Harbors from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com lowered Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $220.00 price objective on shares of Clean Harbors in a research note on Monday, April 22nd. Needham & Company LLC reissued a “buy” rating and set a $235.00 price objective on shares of Clean Harbors in a research note on Thursday. Finally, Truist Financial boosted their price objective on Clean Harbors from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $213.40.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 15,276 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $187.71, for a total transaction of $2,867,457.96. Following the completion of the transaction, the chief executive officer now directly owns 67,374 shares of the company’s stock, valued at approximately $12,646,773.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director John T. Preston sold 1,913 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $188.36, for a total value of $360,332.68. Following the completion of the transaction, the director now directly owns 4,767 shares of the company’s stock, valued at approximately $897,912.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric W. Gerstenberg sold 15,276 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $187.71, for a total value of $2,867,457.96. Following the completion of the transaction, the chief executive officer now directly owns 67,374 shares of the company’s stock, valued at $12,646,773.54. The disclosure for this sale can be found here. Insiders sold a total of 25,185 shares of company stock valued at $4,819,554 in the last ninety days. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Hedge funds have recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in Clean Harbors in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in Clean Harbors in the 3rd quarter valued at approximately $25,000. Contravisory Investment Management Inc. purchased a new position in Clean Harbors in the 4th quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in Clean Harbors in the 1st quarter valued at approximately $27,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Clean Harbors in the 3rd quarter valued at approximately $33,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

Clean Harbors Stock Up 1.6 %

The firm has a 50 day moving average of $192.95 and a two-hundred day moving average of $176.67. The stock has a market capitalization of $11.23 billion, a PE ratio of 29.58 and a beta of 1.24. The company has a current ratio of 1.98, a quick ratio of 1.66 and a debt-to-equity ratio of 1.02.

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.