Clean Harbors (NYSE:CLH) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Clean Harbors (NYSE:CLH) from a neutral rating to a buy rating in a report released on Wednesday morning, Marketbeat reports. Citigroup currently has $346.00 price objective on the business services provider’s stock, up from their prior price objective of $302.00.

Several other research firms have also issued reports on CLH. Barclays raised their target price on shares of Clean Harbors from $230.00 to $280.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Raymond James Financial restated a “strong-buy” rating and issued a $320.00 target price on shares of Clean Harbors in a report on Monday, February 23rd. TD Cowen restated a “buy” rating on shares of Clean Harbors in a report on Thursday, February 19th. Truist Financial raised their target price on shares of Clean Harbors from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Clean Harbors from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Clean Harbors presently has an average rating of “Moderate Buy” and a consensus target price of $308.09.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $302.81 on Wednesday. Clean Harbors has a 52 week low of $179.47 and a 52 week high of $316.98. The stock has a market capitalization of $16.02 billion, a P/E ratio of 41.59 and a beta of 0.94. The firm has a fifty day simple moving average of $282.25 and a two-hundred day simple moving average of $251.27. 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 issued its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $1.55 EPS. On average, analysts expect that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In related news, Director Marcy L. Reed sold 836 shares of Clean Harbors stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total transaction of $240,717.84. Following the completion of the sale, the director owned 5,081 shares in the company, valued at $1,463,023.14. This trade represents a 14.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sharon M. Gabriel sold 3,540 shares of Clean Harbors stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $282.07, for a total transaction of $998,527.80. Following the sale, the executive vice president owned 23,193 shares of the company’s stock, valued at $6,542,049.51. The trade was a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,597 shares of company stock worth $3,895,286 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its holdings in shares of Clean Harbors by 102.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Clean Harbors by 47.7% in the 1st quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 196 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Clean Harbors by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider’s stock valued at $10,757,000 after purchasing an additional 5,884 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Clean Harbors by 65.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,837 shares of the business services provider’s stock valued at $1,118,000 after purchasing an additional 1,908 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Clean Harbors by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 4,418 shares of the business services provider’s stock valued at $1,021,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 90.43% of the company’s stock.

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.