BMO Capital Markets Issues Positive Forecast for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its price target increased by BMO Capital Markets from $340.00 to $342.00 in a research report released on Wednesday, MarketBeat Ratings reports. They currently have an outperform rating on the business services provider’s stock.

Several other brokerages have also issued reports on CLH. Needham & Company LLC raised their target price on Clean Harbors from $308.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Clean Harbors from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Citigroup raised Clean Harbors from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $302.00 to $346.00 in a report on Wednesday, April 8th. Oppenheimer increased their target price on shares of Clean Harbors from $310.00 to $316.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, TD Cowen raised their price target on shares of Clean Harbors from $320.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $325.69.

Clean Harbors Price Performance

Shares of NYSE CLH opened at $300.81 on Wednesday. The company has a market capitalization of $15.90 billion, a PE ratio of 40.76 and a beta of 0.86. The firm has a fifty day simple moving average of $292.15 and a 200 day simple moving average of $281.07. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. Clean Harbors has a twelve month low of $201.34 and a twelve month high of $316.98.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that Clean Harbors will post 8.5 EPS for the current year.

Insider Transactions at Clean Harbors

In related news, Director Lauren States sold 789 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total transaction of $225,803.91. Following the transaction, the director owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Clean Harbors in the fourth quarter worth $152,195,000. Durable Capital Partners LP purchased a new position in shares of Clean Harbors in the 3rd quarter worth about $133,217,000. Nordea Investment Management AB grew its holdings in shares of Clean Harbors by 120.8% during the fourth quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock valued at $246,725,000 after buying an additional 569,388 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Clean Harbors by 148.3% in the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider’s stock worth $89,287,000 after purchasing an additional 229,666 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Clean Harbors by 10.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after purchasing an additional 215,659 shares during the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.