Clean Harbors (NYSE:CLH) Downgraded to “Hold” Rating by StockNews.com

Clean Harbors (NYSE:CLH) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other research firms have also recently issued reports on CLH. TD Cowen began coverage on shares of Clean Harbors in a research report on Friday, December 6th. They set a “buy” rating and a $325.00 price objective for the company. 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, February 20th. BMO Capital Markets cut their target price on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $268.00 price objective on shares of Clean Harbors in a report on Thursday, February 20th. Finally, Stifel Nicolaus reduced their price objective on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Clean Harbors currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.56.

Clean Harbors Stock Up 1.2 %

NYSE CLH traded up $2.54 during trading hours on Tuesday, hitting $214.19. 617,330 shares of the company were exchanged, compared to its average volume of 449,337. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 28.87 and a beta of 1.24. The company has a 50 day moving average of $231.95 and a two-hundred day moving average of $241.92. Clean Harbors has a 52-week low of $180.37 and a 52-week high of $267.11.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Brian P. Weber sold 861 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total transaction of $224,987.91. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren States sold 308 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $239.04, for a total value of $73,624.32. Following the transaction, the director now directly owns 12,226 shares in the company, valued at approximately $2,922,503.04. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,785 shares of company stock worth $444,558 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several large investors have recently modified their holdings of the stock. Armis Advisers LLC purchased a new position in Clean Harbors in the 4th quarter valued at $327,000. Putney Financial Group LLC acquired a new stake in shares of Clean Harbors in the 4th quarter worth $511,000. Toronto Dominion Bank purchased a new stake in shares of Clean Harbors in the fourth quarter valued at about $3,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Clean Harbors by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,276 shares of the business services provider’s stock valued at $90,969,000 after acquiring an additional 3,284 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Clean Harbors during the fourth quarter worth about $543,000. Hedge funds and other institutional investors 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.