Needham & Company LLC Issues Positive Forecast for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its target price raised by Needham & Company LLC from $255.00 to $290.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the business services provider’s stock.

CLH has been the topic of several other reports. Citigroup raised their price objective on Clean Harbors from $263.00 to $274.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company started coverage on Clean Harbors in a research report on Thursday, November 13th. They set an “equal weight” rating and a $220.00 target price on the stock. CJS Securities raised shares of Clean Harbors to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Clean Harbors in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $256.00.

Clean Harbors Stock Down 3.0%

CLH stock opened at $256.22 on Tuesday. Clean Harbors has a one year low of $178.29 and a one year high of $268.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.09 and a current ratio of 2.44. The firm’s fifty day moving average is $236.17 and its 200 day moving average is $234.69. The firm has a market cap of $13.69 billion, a PE ratio of 35.54 and a beta of 0.95.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, October 29th. The business services provider reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.16). Clean Harbors had a return on equity of 14.61% and a net margin of 6.51%.The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company earned $2.12 earnings per share. The company’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts forecast that Clean Harbors will post 7.89 EPS for the current year.

Insider Buying and Selling at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 601 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total transaction of $144,780.90. Following the transaction, the chief executive officer directly owned 50,454 shares in the company, valued at approximately $12,154,368.60. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLH. Norges Bank purchased a new position in Clean Harbors during the second quarter worth approximately $147,632,000. Durable Capital Partners LP acquired a new stake in shares of Clean Harbors in the 3rd quarter worth $133,217,000. Nordea Investment Management AB raised its holdings in shares of Clean Harbors by 120.8% during the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock worth $246,725,000 after acquiring an additional 569,388 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Clean Harbors during the 2nd quarter valued at about $95,115,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Clean Harbors during the 2nd quarter valued at about $59,085,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.