Canaccord Genuity Reiterates Hold Rating for Clean Harbors (CLH)
Clean Harbors (NYSE:CLH)‘s stock had its “hold” rating restated by Canaccord Genuity in a research report issued to clients and investors on Thursday. They presently have a $57.00 price target on the business services provider’s stock. Canaccord Genuity’s price target indicates a potential upside of 4.36% from the company’s current price.
The analysts wrote, “We are lowering our 2018 EBITDA estimate to reflect anticipated conservatism and reiterate a HOLD rating and $57 price target. Investment highlights We remain positive on macro drivers and beneficial market trends for each of CLH’s businesses and believe that the company is poised for a rebound year in 2018. Nevertheless, optics of below-consensus guidance could make the stock range-bound in the near term.””
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Clean Harbors from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. BMO Capital Markets reduced their price objective on Clean Harbors from $65.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of Clean Harbors in a research note on Friday, November 3rd. UBS Group raised Clean Harbors from an “underperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Finally, Raymond James Financial raised Clean Harbors from an “underperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Clean Harbors currently has a consensus rating of “Hold” and an average target price of $61.00.
Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.18). Clean Harbors had a net margin of 0.13% and a return on equity of 1.05%. sell-side analysts forecast that Clean Harbors will post 0.31 EPS for the current year.
In other news, EVP Brian P. Weber sold 1,870 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $53.00, for a total transaction of $99,110.00. Following the transaction, the executive vice president now owns 57,205 shares of the company’s stock, valued at approximately $3,031,865. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David J. Vergo sold 1,097 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $54.00, for a total value of $59,238.00. Following the transaction, the insider now directly owns 24,156 shares in the company, valued at approximately $1,304,424. The disclosure for this sale can be found here. Insiders have sold a total of 11,581 shares of company stock worth $613,418 in the last ninety days. Insiders own 8.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CLH. Vanguard Group Inc. lifted its holdings in Clean Harbors by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,116,699 shares of the business services provider’s stock worth $229,836,000 after purchasing an additional 68,590 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Clean Harbors by 0.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,260,372 shares of the business services provider’s stock worth $128,163,000 after purchasing an additional 14,789 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Clean Harbors by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,903,264 shares of the business services provider’s stock worth $107,915,000 after purchasing an additional 15,654 shares in the last quarter. State Street Corp lifted its holdings in Clean Harbors by 1.6% during the 2nd quarter. State Street Corp now owns 1,373,858 shares of the business services provider’s stock worth $76,701,000 after purchasing an additional 21,037 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Clean Harbors during the 2nd quarter worth about $57,925,000. 92.58% of the stock is currently owned by hedge funds and other institutional investors.
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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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