Clean Harbors’ (CLH) “Buy” Rating Reiterated at Needham & Company LLC
Clean Harbors Inc. (NYSE:CLH)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Wednesday. They currently have a $58.00 price target on the stock, down from their prior price target of $59.00. Needham & Company LLC’s price objective would indicate a potential upside of 20.46% from the stock’s previous close.
A number of other research firms have also weighed in on CLH. Zacks Investment Research raised Clean Harbors from a “sell” rating to a “hold” rating in a research report on Monday, June 27th. Barclays PLC cut their target price on Clean Harbors from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 9th. Imperial Capital upped their target price on Clean Harbors from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, Macquarie assumed coverage on Clean Harbors in a research report on Thursday, August 25th. They issued a “neutral” rating and a $51.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $55.43.
Clean Harbors (NYSE:CLH) traded up 0.33% during trading on Wednesday, hitting $48.15. The company had a trading volume of 220,902 shares. Clean Harbors has a 1-year low of $37.09 and a 1-year high of $54.54. The company’s 50 day moving average price is $47.48 and its 200-day moving average price is $49.68. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 116.30 and a beta of 0.81.
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Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, August 3rd. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $397.50 million for the quarter, compared to the consensus estimate of $727.68 million. Clean Harbors had a net margin of 0.81% and a return on equity of 3.74%. The company’s quarterly revenue was down 25.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. On average, analysts expect that Clean Harbors will post $0.51 EPS for the current year.
In other news, Director Andrea Robertson sold 3,608 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $50.85, for a total transaction of $183,466.80. Following the completion of the sale, the director now owns 15,170 shares in the company, valued at approximately $771,394.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Parry sold 4,060 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $47.37, for a total transaction of $192,322.20. Following the sale, the insider now owns 45,340 shares of the company’s stock, valued at approximately $2,147,755.80. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Hermes Investment Management Ltd. boosted its stake in Clean Harbors by 17.4% in the second quarter. Hermes Investment Management Ltd. now owns 641,671 shares of the company’s stock valued at $33,437,000 after buying an additional 95,024 shares during the period. Renaissance Technologies LLC boosted its stake in Clean Harbors by 2.6% in the first quarter. Renaissance Technologies LLC now owns 587,502 shares of the company’s stock valued at $28,987,000 after buying an additional 14,612 shares during the period. Nisa Investment Advisors LLC boosted its stake in Clean Harbors by 8.3% in the second quarter. Nisa Investment Advisors LLC now owns 26,020 shares of the company’s stock valued at $1,356,000 after buying an additional 2,000 shares during the period. Prudential Financial Inc. boosted its stake in Clean Harbors by 11.4% in the first quarter. Prudential Financial Inc. now owns 35,483 shares of the company’s stock valued at $1,751,000 after buying an additional 3,640 shares during the period. Finally, Coyle Financial Counsel LLC boosted its stake in Clean Harbors by 1.7% in the second quarter. Coyle Financial Counsel LLC now owns 30,701 shares of the company’s stock valued at $1,600,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.
About Clean Harbors
Clean Harbors, Inc is a provider of environmental, energy and industrial services. The Company operates in six segments: Technical Services; Industrial and Field Services; Kleen Performance Products; SK Environmental Services; Lodging Services, and Oil and Gas Field Services. Its Technical Services segment involves the collection, transportation, treatment and disposal of hazardous and non-hazardous wastes.
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