Clean Harbors (NYSE:CLH) Downgraded to “Buy” at StockNews.com

Clean Harbors (NYSE:CLH) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

CLH has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $235.00 price objective on shares of Clean Harbors in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $220.00 price objective on shares of Clean Harbors in a report on Monday, April 22nd. Truist Financial boosted their target price on shares of Clean Harbors from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Raymond James increased their price target on shares of Clean Harbors from $225.00 to $235.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, BMO Capital Markets upped their target price on shares of Clean Harbors from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Clean Harbors has a consensus rating of “Buy” and an average price target of $216.40.

Clean Harbors Stock Up 0.9 %

Shares of CLH stock traded up $1.80 during trading hours on Thursday, hitting $207.35. 330,570 shares of the company were exchanged, compared to its average volume of 310,847. The company has a market capitalization of $11.18 billion, a PE ratio of 30.01 and a beta of 1.24. Clean Harbors has a 52 week low of $132.92 and a 52 week high of $210.26. The business has a 50 day moving average of $193.88 and a two-hundred day moving average of $177.20. The company has a current ratio of 2.07, a quick ratio of 1.66 and a debt-to-equity ratio of 1.20.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.13. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.34 billion. Clean Harbors had a return on equity of 16.97% and a net margin of 6.85%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. Analysts anticipate that Clean Harbors will post 7.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other news, EVP Brian P. Weber sold 7,996 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total transaction of $1,591,763.72. Following the completion of the sale, the executive vice president now owns 62,803 shares in the company, valued at $12,502,193.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Brian P. Weber sold 7,996 shares of Clean Harbors stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total transaction of $1,591,763.72. Following the completion of the sale, the executive vice president now owns 62,803 shares of the company’s stock, valued at $12,502,193.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric W. Gerstenberg sold 15,276 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $187.71, for a total transaction of $2,867,457.96. Following the completion of the sale, the chief executive officer now directly owns 67,374 shares of the company’s stock, valued at approximately $12,646,773.54. The disclosure for this sale can be found here. Insiders have sold a total of 25,185 shares of company stock valued at $4,819,554 in the last three months. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DAVENPORT & Co LLC grew its holdings in shares of Clean Harbors by 93.1% during the 1st quarter. DAVENPORT & Co LLC now owns 264,416 shares of the business services provider’s stock worth $53,124,000 after purchasing an additional 127,498 shares in the last quarter. Csenge Advisory Group bought a new stake in Clean Harbors during the first quarter worth about $209,000. Central Pacific Bank Trust Division bought a new stake in Clean Harbors during the first quarter worth about $195,000. FORA Capital LLC increased its holdings in Clean Harbors by 276.0% in the 1st quarter. FORA Capital LLC now owns 4,568 shares of the business services provider’s stock valued at $920,000 after buying an additional 3,353 shares during the period. Finally, BNP Paribas acquired a new position in shares of Clean Harbors in the 1st quarter valued at approximately $1,659,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.