Clean Harbors, Inc. (NYSE:CLH)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Friday. They currently have a $66.00 target price on the business services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 23.97% from the stock’s current price.

CLH has been the subject of several other research reports. Zacks Investment Research lowered Clean Harbors from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine raised Clean Harbors from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. KeyCorp reissued a “hold” rating on shares of Clean Harbors in a research note on Wednesday. BidaskClub lowered Clean Harbors from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $67.00 price objective on shares of Clean Harbors in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Clean Harbors currently has a consensus rating of “Hold” and an average target price of $61.00.

Shares of Clean Harbors (NYSE:CLH) traded up $0.96 during midday trading on Friday, reaching $53.24. 347,192 shares of the company traded hands, compared to its average volume of 286,639. The company has a market cap of $3.04 billion, a PE ratio of 267.10 and a beta of 1.04. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.72 and a current ratio of 2.19.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). The business had revenue of $752.80 million for the quarter, compared to the consensus estimate of $735.63 million. Clean Harbors had a net margin of 0.13% and a return on equity of 1.05%. Clean Harbors’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. analysts predict that Clean Harbors will post 0.64 EPS for the current year.

Clean Harbors announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 1st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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In other news, EVP Brian P. Weber sold 490 shares of the business’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 completion of the sale, the executive vice president now owns 59,413 shares of the company’s stock, valued at approximately $3,337,822.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Eric W. Gerstenberg sold 4,667 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $50.42, for a total value of $235,310.14. Following the completion of the sale, the chief operating officer now directly owns 91,950 shares of the company’s stock, valued at approximately $4,636,119. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,090 shares of company stock valued at $313,845. Corporate insiders own 8.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Prudential Financial Inc. lifted its stake in shares of Clean Harbors by 6.1% in the 1st quarter. Prudential Financial Inc. now owns 32,431 shares of the business services provider’s stock valued at $1,804,000 after acquiring an additional 1,878 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Clean Harbors by 17.4% in the 1st quarter. OppenheimerFunds Inc. now owns 11,987 shares of the business services provider’s stock valued at $667,000 after acquiring an additional 1,779 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Clean Harbors by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 59,926 shares of the business services provider’s stock valued at $3,333,000 after acquiring an additional 4,982 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Clean Harbors by 30.2% in the 1st quarter. Legal & General Group Plc now owns 58,004 shares of the business services provider’s stock valued at $3,225,000 after acquiring an additional 13,441 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Clean Harbors by 10.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 9,860 shares of the business services provider’s stock valued at $548,000 after acquiring an additional 930 shares during the last quarter. 94.14% of the stock is owned by institutional investors.

About Clean Harbors

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.

Analyst Recommendations for Clean Harbors (NYSE:CLH)

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