Clean Harbors (NYSE:CLH) Stock Bumped Up to Strong-Buy by Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Clean Harbors (NYSE:CLH – Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also weighed in on the company. Citigroup upped their price objective on Clean Harbors from $376.00 to $378.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Barclays lifted their target price on Clean Harbors from $325.00 to $335.00 and gave the company an “equal weight” rating in a report on Thursday, October 8th. Stifel Nicolaus boosted their target price on Clean Harbors from $337.00 to $364.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. TD Cowen upped their price target on Clean Harbors from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Finally, Wells Fargo & Company upped their price target on Clean Harbors from $313.00 to $349.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.07.

Check Out Our Latest Report on CLH

Clean Harbors Price Performance

Shares of CLH opened at $319.02 on Friday. Clean Harbors has a fifty-two week low of $201.34 and a fifty-two week high of $335.94. The firm’s 50 day moving average price is $317.02 and its 200 day moving average price is $305.38. The company has a market cap of $16.84 billion, a P/E ratio of 38.72, a PEG ratio of 1.85 and a beta of 0.87. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94.

Clean Harbors (NYSE:CLH – Get Free Report) last released its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the business earned $2.36 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts forecast that Clean Harbors will post 9.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andrea Robertson sold 789 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the transaction, the director directly owned 8,979 shares of the company’s stock, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $321.34, for a total value of $803,350.00. Following the transaction, the chief executive officer directly owned 56,793 shares of the company’s stock, valued at approximately $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

Institutional investors have recently added to or reduced their stakes in the business. Reyes Financial Architecture Inc. acquired a new position in Clean Harbors in the third quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Clean Harbors in the second quarter valued at approximately $36,000. Elevation Wealth Partners LLC raised its holdings in Clean Harbors by 317.6% during the third quarter. Elevation Wealth Partners LLC now owns 142 shares of the business services provider’s stock worth $44,000 after purchasing an additional 108 shares in the last quarter. Pension & Wealth Management Advisors Inc. acquired a new stake in Clean Harbors during the third quarter worth approximately $53,000. Finally, Root Financial Partners LLC raised its holdings in Clean Harbors by 99.2% during the first quarter. Root Financial Partners LLC now owns 241 shares of the business services provider’s stock worth $69,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Company Profile

(Get Free Report)

Clean Harbors, Inc provides environmental, energy and industrial services to customers across North America. The company serves a broad range of industries, including manufacturing, government, utilities, energy and transportation, helping customers manage hazardous and non-hazardous materials, maintain industrial facilities and respond to environmental emergencies.

Its services include hazardous waste collection, transportation, treatment and disposal; incineration; recycling and waste-to-fuel programs; wastewater treatment; and used-oil collection and re-refining.

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