Needham & Company LLC Raises Clean Harbors (NYSE:CLH) Price Target to $290.00

Clean Harbors (NYSE:CLH) had its price target upped by analysts at Needham & Company LLC from $255.00 to $290.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 10.76% from the stock’s previous close.

A number of other research firms have also recently issued reports on CLH. Zacks Research raised shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. CJS Securities raised shares of Clean Harbors to a “strong-buy” rating in a report on Thursday, December 11th. UBS Group cut their target price on shares of Clean Harbors from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company assumed coverage on shares of Clean Harbors in a research report on Thursday, November 13th. They set an “equal weight” rating and a $220.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Clean Harbors in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Clean Harbors presently has a consensus rating of “Moderate Buy” and an average price target of $256.00.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $261.82 on Tuesday. The firm has a market cap of $13.99 billion, a PE ratio of 36.31 and a beta of 0.95. Clean Harbors has a twelve month low of $178.29 and a twelve month high of $268.22. The company has a quick ratio of 2.09, a current ratio of 2.44 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $237.25 and a 200 day moving average price of $234.88.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.16). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Clean Harbors had a return on equity of 14.61% and a net margin of 6.51%.The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 EPS. Sell-side analysts predict that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 601 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total value of $144,780.90. Following the completion of the sale, the chief executive officer owned 50,454 shares of the company’s stock, valued at approximately $12,154,368.60. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently bought and sold shares of CLH. Root Financial Partners LLC acquired a new stake in shares of Clean Harbors during the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its position in Clean Harbors by 102.7% in the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock worth $36,000 after acquiring an additional 77 shares during the period. Golden State Wealth Management LLC increased its stake in Clean Harbors by 145.3% during the second quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider’s stock worth $43,000 after acquiring an additional 109 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Clean Harbors during the third quarter worth $44,000. Finally, First Horizon Corp purchased a new stake in Clean Harbors in the third quarter valued at $44,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Company Profile

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.