Clean Harbors (NYSE:CLH) Price Target Raised to $350.00

Clean Harbors (NYSE:CLH) had its price target increased by Robert W. Baird from $300.00 to $350.00 in a report published on Thursday morning, Marketbeat Ratings reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

CLH has been the subject of several other research reports. Citigroup upgraded Clean Harbors from a “neutral” rating to a “buy” rating and raised their price objective for the company from $302.00 to $346.00 in a report on Wednesday, April 8th. TD Cowen reiterated a “buy” rating on shares of Clean Harbors in a report on Thursday, February 19th. Wells Fargo & Company increased their price target on Clean Harbors from $291.00 to $309.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group raised their price target on Clean Harbors from $268.00 to $306.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Finally, UBS Group boosted their price target on Clean Harbors from $240.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.64.

Clean Harbors Stock Performance

Shares of CLH stock opened at $299.96 on Thursday. Clean Harbors has a 12 month low of $201.34 and a 12 month high of $316.98. The company’s fifty day simple moving average is $287.78 and its 200-day simple moving average is $254.56. The firm has a market cap of $15.99 billion, a PE ratio of 41.20 and a beta of 0.94. The company has a quick ratio of 2.00, a current ratio of 2.33 and a debt-to-equity ratio of 1.01.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts expect that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the completion of the sale, the chief executive officer directly owned 38,877 shares of the company’s stock, valued at $11,390,961. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian P. Weber sold 4,683 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total value of $1,373,945.37. Following the transaction, the executive vice president directly owned 48,728 shares in the company, valued at $14,296,307.92. The trade was a 8.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 13,597 shares of company stock valued at $3,895,286. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Clean Harbors during the 4th quarter worth about $152,195,000. Durable Capital Partners LP acquired a new position in Clean Harbors in the 3rd quarter valued at about $133,217,000. Nordea Investment Management AB raised its holdings in Clean Harbors by 120.8% in the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock valued at $246,725,000 after acquiring an additional 569,388 shares during the period. Two Sigma Investments LP raised its holdings in Clean Harbors by 148.3% in the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider’s stock valued at $89,287,000 after acquiring an additional 229,666 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Clean Harbors by 10.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after acquiring an additional 215,659 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Company Profile

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.