Clean Harbors (NYSE:CLH) Upgraded 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 issued to investors on Friday morning.

Several other analysts also recently weighed in on the stock. 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 note on Thursday, August 1st. Robert W. Baird boosted their price objective on shares of Clean Harbors from $242.00 to $268.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Truist Financial boosted their price objective on shares of Clean Harbors from $240.00 to $260.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Raymond James boosted their price objective on shares of Clean Harbors from $225.00 to $235.00 and gave the stock a strong-buy rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Clean Harbors from $225.00 to $230.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Clean Harbors currently has a consensus rating of Buy and a consensus price target of $242.40.

Clean Harbors Stock Performance

Clean Harbors stock opened at $245.90 on Friday. The company has a 50 day moving average price of $231.68 and a 200-day moving average price of $211.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.72 and a current ratio of 2.10. Clean Harbors has a fifty-two week low of $132.92 and a fifty-two week high of $247.24. The company has a market capitalization of $13.26 billion, a PE ratio of 35.59 and a beta of 1.21.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.25. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that Clean Harbors will post 7.56 earnings per share for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, insider Alan S. Mckim sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $215.51, for a total transaction of $10,775,500.00. Following the sale, the insider now owns 2,494,211 shares of the company’s stock, valued at approximately $537,527,412.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Clean Harbors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLH. Moody National Bank Trust Division raised its stake in shares of Clean Harbors by 1.0% in the second quarter. Moody National Bank Trust Division now owns 4,843 shares of the business services provider’s stock worth $1,095,000 after purchasing an additional 47 shares during the last quarter. Quent Capital LLC raised its stake in shares of Clean Harbors by 6.9% in the second quarter. Quent Capital LLC now owns 725 shares of the business services provider’s stock worth $164,000 after purchasing an additional 47 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Clean Harbors by 4.0% in the first quarter. Nations Financial Group Inc. IA ADV now owns 1,287 shares of the business services provider’s stock worth $259,000 after purchasing an additional 50 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Clean Harbors by 10.5% in the 2nd quarter. Fifth Third Bancorp now owns 528 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 50 shares during the last quarter. Finally, MJP Associates Inc. ADV increased its stake in shares of Clean Harbors by 1.1% in the second quarter. MJP Associates Inc. ADV now owns 4,734 shares of the business services provider’s stock worth $1,071,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

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.