Clean Harbors (NYSE:CLH) Lowered to Buy Rating by StockNews.com

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

A number of other brokerages have also weighed in on CLH. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 target price (up previously from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. Oppenheimer increased their price objective on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Truist Financial boosted their target price on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird lowered their price target on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC cut their price objective on shares of Clean Harbors from $274.00 to $268.00 and set a “buy” rating for the company in a report on Thursday. One equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $254.33.

Clean Harbors Stock Performance

CLH traded down $3.84 during trading hours on Thursday, reaching $231.31. The company’s stock had a trading volume of 700,191 shares, compared to its average volume of 293,770. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10. The company’s 50-day moving average is $246.84 and its 200-day moving average is $228.98. Clean Harbors has a 52 week low of $132.92 and a 52 week high of $267.11. The firm has a market cap of $12.48 billion, a PE ratio of 33.47 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. Clean Harbors’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. On average, equities analysts forecast that Clean Harbors will post 7.65 EPS for the current year.

Insider Activity

In other Clean Harbors news, Director Lauren States sold 309 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the sale, the director now directly owns 13,458 shares in the company, valued at $3,284,963.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the transaction, the chief executive officer now owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren States sold 309 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the sale, the director now directly owns 13,458 shares in the company, valued at approximately $3,284,963.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,617 shares of company stock worth $2,613,132. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds have recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Clean Harbors in the 2nd quarter valued at approximately $25,000. UMB Bank n.a. grew its stake in shares of Clean Harbors by 63.4% in the third quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock worth $52,000 after purchasing an additional 83 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Clean Harbors in the second quarter valued at $56,000. CENTRAL TRUST Co raised its position in Clean Harbors by 161.6% during the 3rd quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock worth $63,000 after purchasing an additional 160 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Clean Harbors by 117.7% during the 2nd quarter. Blue Trust Inc. now owns 320 shares of the business services provider’s stock worth $72,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

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.