Clean Harbors (NYSE:CLH) Given New $309.00 Price Target at Wells Fargo & Company

Clean Harbors (NYSE:CLH) had its price objective hoisted by Wells Fargo & Company from $291.00 to $309.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

Several other analysts have also commented on the stock. Barclays increased their target price on shares of Clean Harbors from $230.00 to $280.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Citigroup lifted their price target on shares of Clean Harbors from $274.00 to $302.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Oppenheimer increased their price objective on Clean Harbors from $283.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Robert W. Baird set a $300.00 price objective on Clean Harbors in a research note on Thursday, February 19th. Finally, TD Cowen restated a “buy” rating on shares of Clean Harbors in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

Clean Harbors Stock Up 0.1%

Clean Harbors stock opened at $290.98 on Wednesday. Clean Harbors has a 52 week low of $178.29 and a 52 week high of $298.12. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 39.97 and a beta of 0.93. The company’s 50-day moving average price is $273.14 and its two-hundred day moving average price is $245.88. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

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

Insider Transactions at Clean Harbors

In other Clean Harbors news, EVP Brian P. Weber sold 4,683 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the transaction, the executive vice president directly owned 48,728 shares of the company’s stock, valued at $14,296,307.92. This represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Eric J. Dugas sold 2,788 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $281.31, for a total value of $784,292.28. Following the transaction, the chief financial officer owned 15,933 shares in the company, valued at approximately $4,482,112.23. This trade represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,761 shares of company stock worth $3,361,568. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

A number of institutional investors have recently modified their holdings of CLH. Corient Private Wealth LLC boosted its holdings in Clean Harbors by 152.9% during the fourth quarter. Corient Private Wealth LLC now owns 12,682 shares of the business services provider’s stock valued at $2,975,000 after acquiring an additional 7,667 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Clean Harbors by 309.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 309 shares during the period. MidFirst Bank acquired a new stake in Clean Harbors in the 4th quarter valued at approximately $28,000. Kera Capital Partners Inc. acquired a new position in Clean Harbors during the 4th quarter valued at $781,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Clean Harbors by 69,453.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,081 shares of the business services provider’s stock worth $7,992,000 after purchasing an additional 34,032 shares during the period. Institutional investors own 90.43% of the company’s stock.

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.