Clean Harbors (NYSE:CLH) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Clean Harbors (NYSE:CLH) from a buy rating to a strong-buy rating in a report released on Monday morning.

CLH has been the topic of several other research reports. Truist Financial increased their target price on shares of Clean Harbors from $240.00 to $260.00 and gave the company a buy rating in a report on Thursday, July 11th. The Goldman Sachs Group upped their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Robert W. Baird upped their price target on Clean Harbors from $242.00 to $268.00 and gave the company an outperform rating in a report on Thursday, August 1st. Needham & Company LLC lifted their target price on shares of Clean Harbors from $235.00 to $274.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, Oppenheimer increased their price target on Clean Harbors from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Clean Harbors currently has a consensus rating of Buy and an average price target of $242.40.

Clean Harbors Price Performance

CLH stock opened at $247.27 on Monday. The company has a market capitalization of $13.34 billion, a P/E ratio of 35.78 and a beta of 1.20. The business has a 50-day simple moving average of $235.55 and a two-hundred day simple moving average of $217.18. Clean Harbors has a 52-week low of $132.92 and a 52-week high of $247.74. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.25. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. Research analysts expect that Clean Harbors will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other news, Director Lauren States sold 309 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $244.09, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the transaction, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at $18,955,400.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren States sold 309 shares of the stock in a transaction on Monday, September 16th. The shares were 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 approximately $3,284,963.22. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLH. Wellington Management Group LLP increased its holdings in shares of Clean Harbors by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after acquiring an additional 182,622 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Clean Harbors by 5.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock valued at $319,371,000 after acquiring an additional 78,848 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after acquiring an additional 248,240 shares during the period. Bessemer Group Inc. raised its holdings in shares of Clean Harbors by 1.2% during the first quarter. Bessemer Group Inc. now owns 1,013,449 shares of the business services provider’s stock worth $204,019,000 after purchasing an additional 12,411 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Clean Harbors by 20.3% during the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after purchasing an additional 90,756 shares during the period. 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.