Needham & Company LLC Reiterates “Buy” Rating for Clean Harbors Inc. (CLH)
Clean Harbors Inc. (NYSE:CLH)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday. They presently have a $58.00 target price on the stock, down from their prior target price of $59.00. Needham & Company LLC’s price objective indicates a potential upside of 20.46% from the stock’s previous close.
CLH has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Clean Harbors from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Thursday, July 28th. Macquarie began coverage on shares of Clean Harbors in a research report on Thursday, August 25th. They set a “neutral” rating and a $51.00 target price on the stock. Imperial Capital increased their target price on shares of Clean Harbors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Finally, Barclays PLC decreased their target price on shares of Clean Harbors from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $55.43.
Shares of Clean Harbors (NYSE:CLH) traded up 0.33% during mid-day trading on Wednesday, hitting $48.15. 220,902 shares of the company were exchanged. The company’s 50-day moving average price is $47.48 and its 200-day moving average price is $49.68. Clean Harbors has a 12-month low of $37.09 and a 12-month high of $54.54. The firm has a market capitalization of $2.77 billion, a P/E ratio of 116.30 and a beta of 0.81.
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Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.08. Clean Harbors had a return on equity of 3.74% and a net margin of 0.81%. The business had revenue of $397.50 million for the quarter, compared to analyst estimates of $727.68 million. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s revenue for the quarter was down 25.5% on a year-over-year basis. Equities research analysts predict that Clean Harbors will post $0.51 earnings per share for the current fiscal year.
In related news, EVP Brian P. Weber sold 773 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $46.58, for a total value of $36,006.34. Following the completion of the transaction, the executive vice president now owns 47,055 shares of the company’s stock, valued at approximately $2,191,821.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrea Robertson sold 3,608 shares of the 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 transaction, the director now directly owns 15,170 shares of the company’s stock, valued at approximately $771,394.50. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. increased its position in shares of Clean Harbors by 8.2% in the third quarter. Raymond James Trust N.A. now owns 6,019 shares of the company’s stock valued at $289,000 after buying an additional 458 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Clean Harbors by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,135 shares of the company’s stock valued at $870,000 after buying an additional 361 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Clean Harbors during the second quarter valued at approximately $1,245,000. Royal Bank of Canada increased its position in shares of Clean Harbors by 1.1% in the second quarter. Royal Bank of Canada now owns 665,493 shares of the company’s stock valued at $34,679,000 after buying an additional 6,935 shares during the last quarter. Finally, Calvert Investment Management Inc. bought a new position in shares of Clean Harbors during the second quarter valued at approximately $204,000. 95.11% of the stock is owned by institutional investors and hedge funds.
Clean Harbors Company Profile
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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