Clean Harbors (NYSE:CLH) Sets New 12-Month High After Analyst Upgrade

Clean Harbors, Inc. (NYSE:CLH)’s share price reached a new 52-week high during mid-day trading on Friday after Truist Financial raised their price target on the stock from $210.00 to $240.00. Truist Financial currently has a buy rating on the stock. Clean Harbors traded as high as $210.26 and last traded at $208.86, with a volume of 64723 shares trading hands. The stock had previously closed at $205.55.

Several other brokerages have also weighed in on CLH. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price objective on shares of Clean Harbors in a report on Thursday. BMO Capital Markets upped their price target on Clean Harbors from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird raised their price objective on Clean Harbors from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer boosted their price objective on Clean Harbors from $178.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Raymond James increased their target price on Clean Harbors from $225.00 to $235.00 and gave the stock a “strong-buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $216.40.

Insider Buying and Selling

In other Clean Harbors news, EVP Brian P. Weber sold 7,996 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total transaction of $1,591,763.72. Following the transaction, the executive vice president now directly owns 62,803 shares in the company, valued at approximately $12,502,193.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director John T. Preston sold 1,913 shares of the business’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 transaction, the director now owns 4,767 shares in the company, valued at approximately $897,912.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian P. Weber sold 7,996 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $199.07, for a total value of $1,591,763.72. Following the sale, the executive vice president now directly owns 62,803 shares of the company’s stock, valued at $12,502,193.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,185 shares of company stock worth $4,819,554. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLH. Central Pacific Bank Trust Division purchased a new stake in Clean Harbors during the first quarter worth about $195,000. FORA Capital LLC increased its stake in shares of Clean Harbors by 276.0% during the 1st quarter. FORA Capital LLC now owns 4,568 shares of the business services provider’s stock worth $920,000 after purchasing an additional 3,353 shares during the last quarter. BNP Paribas bought a new stake in shares of Clean Harbors in the 1st quarter worth approximately $1,659,000. Capital Investment Counsel Inc purchased a new position in Clean Harbors in the first quarter valued at approximately $201,000. Finally, Retirement Systems of Alabama grew its holdings in Clean Harbors by 1.5% during the first quarter. Retirement Systems of Alabama now owns 122,356 shares of the business services provider’s stock valued at $24,631,000 after purchasing an additional 1,829 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Stock Up 0.9 %

The firm has a market capitalization of $11.33 billion, a PE ratio of 30.01 and a beta of 1.24. The stock has a 50-day simple moving average of $193.42 and a 200-day simple moving average of $176.87. The company has a quick ratio of 1.66, a current ratio of 2.07 and a debt-to-equity ratio of 1.20.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. Clean Harbors had a return on equity of 16.97% and a net margin of 6.85%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Clean Harbors, Inc. will post 7.4 EPS for the current year.

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.