StockNews.com Upgrades Clean Harbors (NYSE:CLH) to “Buy”

Clean Harbors (NYSE:CLH) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other research firms also recently commented on CLH. The Goldman Sachs Group reduced their price objective on Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Truist Financial decreased their price target on Clean Harbors from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets lowered their price objective on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC lowered their target price on Clean Harbors from $268.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lowered their price target on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $257.67.

Clean Harbors Stock Performance

Shares of CLH opened at $222.37 on Thursday. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. Clean Harbors has a 52-week low of $178.29 and a 52-week high of $267.11. The stock has a 50 day moving average price of $201.32 and a 200 day moving average price of $227.49. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 29.97 and a beta of 1.11.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, April 30th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Research analysts predict that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insider Activity

In related news, insider Robert Speights sold 2,725 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $190.44, for a total transaction of $518,949.00. Following the sale, the insider now directly owns 40,008 shares in the company, valued at approximately $7,619,123.52. This trade represents a 6.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lauren States sold 308 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total transaction of $70,467.32. Following the transaction, the director now directly owns 11,918 shares in the company, valued at approximately $2,726,719.22. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dynasty Wealth Management LLC raised its position in shares of Clean Harbors by 4.6% in the 1st quarter. Dynasty Wealth Management LLC now owns 3,215 shares of the business services provider’s stock valued at $634,000 after purchasing an additional 141 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Clean Harbors by 3.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 57,212 shares of the business services provider’s stock worth $11,276,000 after purchasing an additional 2,091 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Clean Harbors by 40.8% in the 1st quarter. TimesSquare Capital Management LLC now owns 9,670 shares of the business services provider’s stock valued at $1,906,000 after purchasing an additional 2,800 shares in the last quarter. Signaturefd LLC lifted its position in shares of Clean Harbors by 20.5% during the first quarter. Signaturefd LLC now owns 624 shares of the business services provider’s stock worth $123,000 after purchasing an additional 106 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Clean Harbors in the first quarter worth about $2,056,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

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.