Clean Harbors (NYSE:CLH) Share Price Breaks Above 200-Day Moving Average – What’s Next?
by Scott Moore · The Cerbat GemClean Harbors, Inc. (NYSE:CLH – Get Free Report)’s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $301.18 and traded as high as $316.63. Clean Harbors shares last traded at $313.13, with a volume of 310,528 shares changing hands.
Wall Street Analyst Weigh In
CLH has been the subject of several research reports. The Goldman Sachs Group restated a “neutral” rating on shares of Clean Harbors in a report on Wednesday, July 29th. William Blair initiated coverage on shares of Clean Harbors in a research report on Thursday, September 10th. They set an “outperform” rating on the stock. Bank of America set a $377.00 price target on shares of Clean Harbors and gave the stock a “buy” rating in a research note on Thursday, July 30th. Barclays raised their price objective on shares of Clean Harbors from $305.00 to $325.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $375.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Clean Harbors presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.57.
Get Our Latest Analysis on Clean Harbors
Clean Harbors Stock Performance
The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The business’s 50-day moving average is $314.55 and its 200-day moving average is $301.18. The company has a market capitalization of $16.53 billion, a PE ratio of 38.00, a PEG ratio of 2.02 and a beta of 0.85.
Clean Harbors (NYSE:CLH – Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm earned $2.36 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Clean Harbors, Inc. will post 9.73 earnings per share for the current year.
Insiders Place Their Bets
In other Clean Harbors news, CEO Eric Gerstenberg sold 2,500 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total value of $803,350.00. Following the sale, the chief executive officer directly owned 56,793 shares of the company’s stock, valued at approximately $18,249,862.62. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Robertson sold 789 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the completion of the sale, the director directly owned 8,979 shares in the company, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Clean Harbors
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Clean Harbors during the 2nd quarter valued at $1,516,521,000. Jupiter Topco LLC bought a new position in shares of Clean Harbors during the second quarter valued at $477,570,000. Norges Bank purchased a new stake in shares of Clean Harbors during the fourth quarter valued at $152,195,000. Bank of America Corp DE bought a new stake in Clean Harbors in the 2nd quarter worth about $142,801,000. Finally, William Blair Investment Management LLC purchased a new position in Clean Harbors in the 2nd quarter worth about $125,239,000. Institutional investors own 90.43% of the company’s stock.
About Clean Harbors
Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.
Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.