Needham & Company LLC Reiterates Buy Rating for Clean Harbors (NYSE:CLH)

Needham & Company LLC reiterated their buy rating on shares of Clean Harbors (NYSE:CLH) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $268.00 target price on the business services provider’s stock.

Several other research firms also recently weighed in on CLH. Oppenheimer increased their price objective on Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Truist Financial increased their price target on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus increased their price target on Clean Harbors from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird decreased their price target on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $270.56.

Clean Harbors Stock Performance

Shares of CLH opened at $211.97 on Thursday. The stock has a 50 day moving average price of $233.69 and a 200 day moving average price of $242.09. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 27.60 and a beta of 1.24. Clean Harbors has a 52-week low of $176.02 and a 52-week high of $267.11.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.19. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 earnings per share. Research analysts predict that Clean Harbors will post 7.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clean Harbors news, EVP Brian P. Weber sold 861 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $261.31, for a total value of $224,987.91. Following the completion of the transaction, the executive vice president now owns 59,346 shares in the company, valued at approximately $15,507,703.26. This represents a 1.43 % 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 Lauren States sold 308 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $245.06, for a total value of $75,478.48. Following the completion of the transaction, the director now owns 12,534 shares of the company’s stock, valued at $3,071,582.04. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,785 shares of company stock worth $444,558. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLH. Hantz Financial Services Inc. boosted its stake in shares of Clean Harbors by 1.4% during the third quarter. Hantz Financial Services Inc. now owns 2,803 shares of the business services provider’s stock valued at $678,000 after acquiring an additional 39 shares during the last quarter. Icon Wealth Advisors LLC boosted its stake in shares of Clean Harbors by 8.4% during the third quarter. Icon Wealth Advisors LLC now owns 581 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 45 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Clean Harbors by 3.6% during the fourth quarter. Traynor Capital Management Inc. now owns 1,450 shares of the business services provider’s stock valued at $334,000 after acquiring an additional 50 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Clean Harbors by 11.8% during the third quarter. Signaturefd LLC now owns 491 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 52 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Clean Harbors by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,563 shares of the business services provider’s stock worth $378,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Company Profile

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.