Clean Harbors, Inc. (NYSE:CLH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Clean Harbors has underperformed the industry year to date. The company is highly exposed to foreign exchange rate risk. The primary exposure relates to operating expenses in Canada, where a large extent of the company’s manufacturing facilities are located. The company’s exploration, drilling activity and production are largely dependent upon the operation of oil rigs, as well as global and North American oil prices. Fuel price volatility and challenging macroeconomic environment are clouding the global oil picture, thereby lowering activity levels and affecting margins. Seasonality of revenues remains another concern for the company. The seasonal variations reduce the predictability of income and impair the company’s earnings. However, Clean Harbors is improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost-management initiatives.”

Other research analysts have also issued reports about the company. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective on shares of Clean Harbors in a report on Wednesday, July 19th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of Clean Harbors in a report on Thursday, July 13th. Barclays PLC raised Clean Harbors from an “underweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock in a report on Monday, August 7th. ValuEngine raised Clean Harbors from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Finally, Canaccord Genuity reissued a “hold” rating and issued a $57.00 price objective on shares of Clean Harbors in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $62.00.

Clean Harbors (NYSE CLH) traded down 1.27% during midday trading on Wednesday, reaching $55.24. The company had a trading volume of 181,707 shares. The firm has a 50-day moving average of $55.78 and a 200 day moving average of $56.07. The company’s market capitalization is $3.16 billion. Clean Harbors has a 1-year low of $43.03 and a 1-year high of $61.62.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $752.80 million during the quarter, compared to analyst estimates of $735.63 million. Clean Harbors had a negative net margin of 0.65% and a positive return on equity of 0.79%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. On average, equities research analysts forecast that Clean Harbors will post $0.68 EPS for the current year.

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In related news, COO Eric W. Gerstenberg sold 4,667 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $50.42, for a total transaction of $235,310.14. Following the sale, the chief operating officer now directly owns 91,950 shares of the company’s stock, valued at $4,636,119. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian P. Weber sold 490 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $56.18, for a total value of $27,528.20. Following the sale, the executive vice president now directly owns 59,413 shares in the company, valued at $3,337,822.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,090 shares of company stock worth $313,845. 8.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. grew its holdings in Clean Harbors by 117.0% during the third quarter. Fox Run Management L.L.C. now owns 10,200 shares of the business services provider’s stock worth $578,000 after acquiring an additional 5,500 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Clean Harbors during the third quarter worth about $282,000. Perpetual Ltd acquired a new stake in Clean Harbors during the second quarter worth about $3,770,000. Public Employees Retirement System of Ohio grew its holdings in Clean Harbors by 23.1% during the second quarter. Public Employees Retirement System of Ohio now owns 26,830 shares of the business services provider’s stock worth $1,498,000 after acquiring an additional 5,034 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Clean Harbors by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 76,572 shares of the business services provider’s stock worth $4,276,000 after acquiring an additional 1,089 shares during the period. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Company Profile

Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.

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Analyst Recommendations for Clean Harbors (NYSE:CLH)

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